Biography
Ted Cardos is a private funds partner in the London office of Kirkland & Ellis International LLP. Theodore’s practice primarily involves structuring, negotiating and documenting complex business transactions in the private funds secondary market, including traditional portfolio sales, structured secondaries, synthetic secondaries (i.e., bundled secondary directs), stapled secondary offerings, and fund recapitalizations. Ted also advises private funds in connection with direct co-investments and other transactional matters. Representative clients advised include HarbourVest, Ontario Teachers’ Pension Plan, Landmark Partners, Partners Group, Deutsche Bank, and Abu Dhabi Investment Council.
Ted was recognised as a ‘Next Generation Lawyer’ by Legal 500 UK in 2017 and 2019. He was further recognised by Private Equity International in their list of “Future 40: The next leaders of private equity” in 2019.
Representative matters include advising:
A Canadian pension plan in connection with its sale of a portfolio of private equity fund interests for approximately US$1.3 billion
Nordic Capital in connection with the transfer of its 2008 vintage fund’s (Nordic Capital Fund VII) remaining nine unlisted portfolio companies to a continuation vehicle in a €2.5 billion transaction
Landmark Equity Advisors on the restructuring and recapitalization of Investindustrial III, L.P. and Investindustrial IV, L.P.
Landmark Equity Advisors on its single asset carve-out from PAI Europe IV
PSP on the sale of a portfolio of fund interests in excess of $1 billion
Partners Group in connection with its sale of a portfolio of private equity fund interests for approximately US$1 billion
Landmark Equity Advisors in connection with its investment in a separately-managed account, managed by a publicly-listed fund manager and used to acquire a series of direct private equity investments previously warehoused by such fund manager and to make further co-investments with such manager for approximately US$500 million
HarbourVest Partners on a spin out of eight portfolio companies in Australia and New Zealand from a South African bank, including a management team roll up and deferred consideration financing
Terra Firma in connection with a its GP-led liquidity solution involving Goldman Sachs
A US-based fund sponsor in connection with the restructuring of four of its existing funds
Landmark Equity Advisors in connection with its secondary market acquisition of a portfolio of private fund interests for approximately US$264 million