Key Takeaways
- • Kirkland & Ellis LLP earned Law360's Fund Formation Group of the Year recognition for 2025, guided by successful representation of major alternative asset managers in capital raises.
- • The firm advised Oaktree Capital on a $16 billion distressed debt fund formation, demonstrating deep expertise in specialized credit strategies.
- • Kirkland represented Thoma Bravo Fund in securing $34.4 billion in commitments, highlighting the firm's strength in large-scale technology-focused private equity fundraising.
- • The recognition reflects Kirkland's market leadership during a period of substantial capital deployment across alternative investment strategies.
Summary
Kirkland & Ellis LLP has been named one of Law360's Fund Formation Groups of the Year for 2025, recognizing the firm's instrumental role in structuring and advising several marquee global investment funds that collectively raised billions in capital commitments.
The firm's marquee engagements included serving as counsel to Oaktree Capital Management on a $16 billion distressed debt fund formation. This transaction underscores Kirkland's depth in alternative credit strategies, a sector that has attracted substantial institutional capital amid economic uncertainty and market dislocations. The scale of the offering reflects continued investor appetite for specialized distressed and opportunistic credit strategies managed by established, multi-strategy platforms.
Additionally, Kirkland advised the Thoma Bravo Fund in securing $34.4 billion in capital commitments. The Thoma Bravo platform, known for leveraged buyouts and growth equity investments in software and technology-enabled services, has maintained its position as one of the largest and most active technology-focused private equity sponsors. The fund's substantial capital raise demonstrates sustained institutional confidence in software and technology investing, even as interest rates and market conditions have shifted from prior years.
These engagements collectively illustrate Kirkland's leading market position in fund formation for large alternative asset managers, spanning distressed credit, private equity, and technology-focused strategies. The Law360 recognition validates the firm's ability to navigate complex regulatory, operational, and structural requirements for mega-cap fund formations while maintaining relationships with premier institutional and alternative investment clients.
The firm's marquee engagements included serving as counsel to Oaktree Capital Management on a $16 billion distressed debt fund formation. This transaction underscores Kirkland's depth in alternative credit strategies, a sector that has attracted substantial institutional capital amid economic uncertainty and market dislocations. The scale of the offering reflects continued investor appetite for specialized distressed and opportunistic credit strategies managed by established, multi-strategy platforms.
Additionally, Kirkland advised the Thoma Bravo Fund in securing $34.4 billion in capital commitments. The Thoma Bravo platform, known for leveraged buyouts and growth equity investments in software and technology-enabled services, has maintained its position as one of the largest and most active technology-focused private equity sponsors. The fund's substantial capital raise demonstrates sustained institutional confidence in software and technology investing, even as interest rates and market conditions have shifted from prior years.
These engagements collectively illustrate Kirkland's leading market position in fund formation for large alternative asset managers, spanning distressed credit, private equity, and technology-focused strategies. The Law360 recognition validates the firm's ability to navigate complex regulatory, operational, and structural requirements for mega-cap fund formations while maintaining relationships with premier institutional and alternative investment clients.
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