Kirsty Maclean

Miller Thomson LLP, Stikeman Elliott LLP, and Torys LLP advised a take-private deal for European Residential Real Estate Investment Trust in a $441 million acquisition by another REIT, following a multiyear wind-down. Canadian Apartment Properties Real Estate Investment Trust will acquire the REIT known as ERES and delist the company from the Toronto Stock Exchange, according to a Monday news release. Toronto-based ERES said it is Canada's only REIT focused on European multifamily properties, holding a portfolio of properties in the Netherlands. As of the end of 2025, ERES held about 1,000 residential units worth a combined $360 million, with about $102 million worth of assets held for sale. CAPREIT is Canada's largest publicly traded rental housing owner, with a combined 45,500 apartments and townhomes across Canada and the Netherlands worth $14.7 billion. The CAPREIT acquisition marks the completion of a strategic review process by ERES. "This transaction marks a natural and constructive ending to ERES, after several successful years of diligent, well-executed downsizing," said Stephen Co, chief financial officer of CAPREIT. "By taking ERES private, CAPREIT can determine the future of the remaining assets in alignment with its long-term objectives, while providing public ERES unitholders with a timely and certain all-cash exit." According to a news release, the acquisition price represents a 32% premium of ERES' closing price on Nov. 6, 2024, before a special ERES meeting to authorize a sale of the REIT. If approved at an upcoming meeting in April, the transaction would close in the second quarter of this year. CAPREIT is advised by John Emanoilidis, David Forrester, Max Ledger, Jason Lamb, Jodie Wang, Michael Zackheim, Simon Knowling, Reea Galeano, Jennifer Lennon, Parker Baglole, Omar Wakil, Andrew Gray, Nina Mansoori, Ben Pan, Corrado Cardarelli, and Andrew Wong of Torys LLP. ERES is advised by Stikeman Elliott LLP. An ERES special committee is advised by Miller Thomson LLP.

Mar 3

1 min

Willkie served as counsel to Davidson Kempner Capital Management LP, supported by operating partner Afendis Capital Management, on the €400 million syndicated TLB and €60 million revolving credit facility refinancing of the Glacier Group, an ice cream manufacturing platform. On February 20, Davidson Kempner announced the completion of its syndicated refinancing of the Glacier Group, one of the world's largest third-party ice cream manufacturing platforms, which includes leading producers YSCO and Gelato d'Italia. Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and approximately $38 billion of assets under management. The Willkie team was led by partners Daniel Gendron and Claire McDaid and included associates Lindsay Randerson, Ethan Douglas and Oliver Salvador.

Feb 23

1 min

Willkie is pleased to announce that corporate insurance lawyer Kirsty Maclean and antitrust and competition lawyer Rahul Saha, both based in the firm’s London office, have been promoted to partners, effective January 1, 2020. Congratulating the new partners, Willkie’s London managing partner Peter Burrell said: “I am delighted to welcome Kirsty and Rahul to the partnership. Their appointments reflect our growth ambitions in London and will further enhance our market-leading corporate insurance and antitrust and competition practices. Both Kirsty and Rahul are extremely talented and their promotions are testament to their skills as lawyers, their contribution to the firm and their individual abilities to deliver outstanding results for clients. I wish them every success in the next stage of their careers.” Kirsty Maclean Kirsty is based in Willkie’s London office and advises insurance, reinsurance and other financial institution clients on a broad range of transactions and non-contentious matters. Kirsty has gained a reputation as a notable lawyer in the longevity and pension de-risking market, having advised European and US-based clients on many of the largest and highest-profile longevity transactions completed to date. Kirsty regularly advises on complex collateralised reinsurance transactions and has a particular focus on the interface between (re)insurance and the capital markets. Rahul Saha Rahul Saha is based in Willkie’s London office and advises on all aspects of EU and UK competition law, including EU and UK merger control, cartels, competition litigation and UK market investigations. He frequently represents clients before the European Commission and the UK’s Competition and Markets Authority, as well as a range of UK sector regulators. Rahul advises clients across a wide range of sectors, including retail/consumer goods, e-commerce, finance, payments, pharma, telecoms and energy. He also has experience advising on EU and UK sector-specific regulation, in particular in relation to energy and telecom matters.

Jan 14

1 min

Willkie advised Convex Group Limited ("Convex Group"), a global specialty insurance and reinsurance group, in connection with its inaugural Tier 2 regulatory capital bond offering in the London Regulation S market. The offering consisted of $600 million in aggregate principal amount of 6.500% Fixed Rate Reset Callable Subordinated Notes due 2046 (the "Notes"), which were issued on January 21, 2026. The Notes were structured to receive Tier 2 solvency capital treatment under the Bermuda Monetary Authority’s Group Supervision and Eligible Capital Rules. The Notes are listed on the International Securities Market of the London Stock Exchange and were offered to institutional investors outside the United States in reliance on Regulation S under the Securities Act of 1933. Convex Group intends to use the majority of the net proceeds from this offering to support its long-term capital structure and strategic independence, as well as to finance a share repurchase in connection with recent equity investments by Onex Corporation and American Insurance Group (AIG). The Willkie team was led by partner Jennifer Tait and included associate Snaebjorn Olafsson and trainee solicitor Ellen Gribben in London. Partner Isaac Silverstein and counsel Catherine Harrington in New York provided U.S. tax advice. Partner Jane Scobie and associate Ashley Jamali in London provided U.K. tax advice. Partners Allison Tam and Andrew Tromans in New York and London and associate Melisa Khajaei in New York provided insurance regulatory advice and associates Rowan Khanna and Kari Prochaska in London supported on financial regulatory and data protection matters, respectively.

Jan 26

1 min

Willkie advised Novacap, a leading North American private equity firm, on its close of Novacap Tech Fund VII, with nearly $3.8 billion in capital commitments, including affiliated vehicles. On February 25, Novacap announced the final close of Novacap Tech Fund VII Fund with nearly $3.8 billion in capital commitments. The fund was raised in under a year, quickly exceeding its target of $2.75 billion, highlighting Novacap’s longstanding focus on disciplined, value-added technology buyouts. With the close of Tech VII – the latest fund in Novacap’s Technologies strategy, Novacap now manages more than $12 billion in assets. In 2025, Willkie advised Novacap on a number of high profile M&A transactions, including its $1.9 billion take-private of Integral Ad Science. The Willkie team was led by partners Larissa Marcellino, Giovanni Smedley and Walter Turturro and included partners Caitlin Link, Henrietta de Salis, Alexander Ryan and Sarah Kessler.

Feb 27

1 min