Global legal practice Norton Rose Fulbright has advised JP Morgan Cazenove, acting as placing agent, on the approximately £90 million placing and open offer of JZ Capital Partners, the London listed private equity-driven fund on September 30, 2015.
JZ Capital Partners invest primarily in US and European microcap businesses. The offer was intended to provide the company with additional resources for future investments as well as to increase the company’s market capitalisation and liquidity. Concurrently, JZ Capital Partners completed a rollover offer of 2022 zero dividend preference shares (or ZDPs) in exchange for outstanding 2016 ZDPs, as part of a strategy to rebalance its debt maturity profile. 2022 ZDPs with a final capital entitlement of approximately £44 million pounds were exchanged for 2016 ZDPs in the rollover offer.
The Norton Rose Fulbright team in London was led by partner Ian Fox and included senior associate Margaret Simcock. Partner Tom Vita led the team advising on US issues which included of counsel Kevin Connolly and associate Daniel Maalo. Partner Michael Flamenbaum provided US tax advice. Ashurst advised the issuers.
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