BOSTON, January 17, 2025 – Proskauer, a leading international law firm, announced today that it advised Cohere Capital Partners (“Cohere”) on the closing of Cohere Capital Fund II (“Fund II”) with more than $215 million in commitments. The Firm also advised Cohere in connection with a strategic minority investment from global alternative asset management firm TPG through its TPG NEXT platform.
Cohere is a Boston-based private equity firm founded in 2019 by Nik Shah and Daniel Gedney to focus on investing in leading tech-enabled lower middle market companies across the IT services, cloud consulting, digital advertising and marketing, e-commerce, and consumer engagement and loyalty services sectors. With Fund II, Cohere will continue to invest across these markets and others, seeking to partner with leading founder- and management-owned businesses to help drive success and growth.
TPG NEXT provides strategic minority capital and custom operational support to help emerging managers establish and grow their firms. Through its partnership with TPG NEXT, Cohere will gain access to TPG’s network, operational and investment capabilities and ecosystem to support strategic business building and expansion, including areas such as capital formation, investment sourcing and diligence.
The Proskauer team advising Cohere on these transactions was led by partners Ryan Carpenter, Scott Jones and Howard Beber (Private Funds) and partner Steven Peck (M&A) and included associates Elise Brown, Brendan Conroy and Kyle Litfin (Private Funds); associates Timothy Kim and John Sedarous (M&A); and partner David Teigman and associate Heather Monte (EBEC).
About Proskauer
The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. With 800+ lawyers in key financial centers around the world, we are known for our pragmatic and commercial approach. Proskauer is the place to turn when a matter is complex, innovative and game-changing. We work seamlessly across practices, industries and jurisdictions with asset managers, private equity and venture capital firms, Fortune 500 and FTSE companies, major sports leagues, entertainment industry legends and other industry-redefining companies.
Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising investment funds, including private equity, venture, credit, hedge, real assets and secondaries funds as well as other asset managers, financial institutions, and institutional investors across all asset classes. The cross-border team of over 240 lawyers is based in the U.S., UK and Latin America and includes specialists in fund formation, secondaries transactions and liquidity solutions, tax, ERISA, regulation, financial services, capital markets, M&A, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.