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Simpson Thacher represented JPMorgan as financial advisor to the Board of Directors of Conversus Capital, L.P. in connection with the agreement by HarbourVest Structured Solutions II, L.P., a newly-formed partnership managed by HarbourVest Partners LLC, to acquire 100% of Conversus Capital’s private equity fund interests and direct co-investments for $1.4 billion in cash (except to the extent that Conversus Capital unit holders elect to receive rollover ownership interests in HarbourVest Structured Solutions II) based on account balance date of April 30, 2012.  The purchase price is subject to adjustments primarily consisting of net portfolio cash flows subsequent to April 30, 2012.  The transaction is subject to customary closing conditions, including receipt of various general partner consents with respect to some of Conversus Capital’s investments. 

Conversus Capital is a publicly traded portfolio of third party private equity funds. Conversus Capital provides immediate exposure to a diversified portfolio of private equity assets managed by best-in-class general partners.  

HarbourVest Structured Solutions II’s investment in Conversus Capital is being made on behalf of HarbourVest-managed funds together with HarbourVest Global Private Equity Limited (“HVPE”), a Guernsey-incorporated closed-end investment company which has a dual listing on both the London Stock Exchange and Euronext Amsterdam. HVPE is advised by HarbourVest Advisers L.P., an affiliate of HarbourVest Partners LLC.  HarbourVest Partners LLC is an independent global alternative investment firm that invests in venture capital, buyout, mezzanine debt, and other private debt through primary partnerships, secondary purchases, and direct co-investments. Since 1986, HarbourVest has been a leading buyer of private equity assets, acquiring $9 billion of assets in deals across stages, types, vintages, and geographies and working with many types of sellers, including financial institutions, corporations, pension plans, government entities, endowments, and family offices.

The Simpson Thacher team includes Marni Lerner and John Wang.