Bruno Bertrand-Delfau is a partner in the Private Funds Group.
He has 15 years’ experience in private equity secondaries, spin-offs of management teams, GP led transactions, fund restructurings and fund or preferred equity financings, and has worked on many of the largest and most complex transactions in the market, both in Europe and in the U.S.
He also advises institutional investors, including fund of funds and pension funds in their primary investments in private equity funds.
Bruno is recognized as a ‘Leading Individual’ in the 2022 Legal 500 UK guide. He is also listed in Chambers and Partners UK 2022 in the spotlight table for his work handling complex secondary transactions. Clients have said "Bruno is an exceptional lawyer who is able to find creative solutions to complex issues and is very strong in negotiations" and "he is very good and smart in his approach,” “commercially driven, very available and committed”.
Education
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University of Paris II Panthéon-Assas, Maîtrise
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University of Paris II Panthéon-Assas, Licence
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HEC Paris, Diploma
Admissions & Qualifications
- Admitted as a solicitor in England and Wales
- France
Awards & Recognition
Chambers UK, Investment Funds: Private Equity: Secondaries, Spotlight Table 2021-2022
The Legal 500 United Kingdom: Investment Fund Formation & Management: Private Funds 2019-2022
The Legal 500 United Kingdom: Hedge Funds: Private Funds 2015-2017
The Legal 500 United States: Investment Fund Formation & Management: Private Equity Funds 2016
Languages
- English
- French
- Italian
- Spanish
Matters
Representative Matters
Bruno has served as deal adviser to global asset manager and secondary market leader, Ardian, since 2007. He is leading an international multidisciplinary team of more than 20 lawyers who have closed approximately 200 transactions in the last couple of years. This includes:
- Around 60 secondary transactions with aggregate total deal values in excess of $22 billion, many of them financed through asset-backed bank financings and syndicated to co-investors;
- Around 120 primary investments with aggregate capital commitments in excess of $6.2 billion;
- Around 10 portfolio company financings or funds recapitalisation;
- Around 10 co-invesmtents in portfolio companies alongside GP sponsors.
In 2019 Bruno advised Ardian in the largest-ever secondary transaction, the $5 billion acquisition by Ardian from a leading Japanese bank of approximately 100 fund interests in approximately 50 GP families.
In addition, in 2019 Bruno also represented Ardian in the complex $2.5 billion liquidation sale by one of its flagship funds, which recently won the “LP sale of the year” PEI award. The sale involved the disposition of over 400 fund interests.