Kirkland Advises TDR Capital on the Closing of a Single-Asset Continuation Fund for David Lloyd Leisure

Kirkland & Ellis advised TDR Capital LLP, a leading UK-based private equity firm, on the successful closing of a newly formed continuation fund, TDR Capital Titan, to acquire majority control of David Lloyd Leisure, Europe's largest operator of premium racquets, health and fitness clubs, from TDR Capital III and its co-investors. The continuation fund closed with £835 million in aggregate capital commitments and will provide additional capital to invest in the business and support its ongoing expansion. TDR Capital Titan was backed by a range of leading investors and asset managers, including the Children's Investment Fund Foundation (acting via its investment manager TCI Fund Management), investment funds managed by Coller Capital, Apollo's Sponsor and Secondary Solutions business, CVC Secondary Partners and Hollyport Capital.

The Kirkland team included investment funds lawyers Richard Watkins, Andy Shore, Amrit Sagoo, Luke Scott, David Melvin, Sam Winter and Lisa Onyeka; corporate lawyers Stuart Boyd, Monica Gemes, Isabel Lee, Adam Diouri, Raam Jeganathan and Saurav Zangeneh; and tax lawyers Mavnick Nerwal, Alan Walker, Katie Price, Gal Shemer, Alexandria Solomou and Limeng Sun.