Carter Ledyard client Pacific Current Group (“PAC”), a global multi-boutique asset management firm, recently closed its multi-million-dollar capital investment in Cordillera Investment Partners, LP (“Cordillera”). Cordillera is a San Francisco-based private equity firm that manages approximately US$1.5 billion and focuses on niche, non-correlated assets, such as aging whiskey, environmental markets, music royalties, live performance rights, boat marinas, media finance and spectrum licenses. PAC invested $30 million in the business in exchange for 16.4% of the firm’s revenues and 24.9% of the proceeds in the event of a sale. As a result of its investment, PAC became a limited partner in the management company and received special limited partner interests in 23 funds managed by Cordillera.
Carter Ledyard counsel Alison Dreizen and associates Claudia Carbone and Louie A. Ayash represented Pacific Current Group in all aspects of the transaction. Partners Ron Feiman, Jeff Boxer, Melinda Fellner, and Jack Griem assisted with various aspects of the investment’s structuring and documentation.