Kirkland & Ellis has added Edward Coates as a partner in its Secondaries team, strengthening the firm’s capabilities across private markets secondary transactions and liquidity solutions. Coates announced the move after previously working at Latham & Watkins.
At Kirkland, he will work alongside partners including Ted Cardos, Aleks Bakic and Amrit Sagoo as the firm continues expanding its secondaries practice and advising sponsors, investors and other market participants on increasingly sophisticated transactions.
The appointment comes amid continued growth in private markets secondaries, where fund sponsors and institutional investors are increasingly using liquidity solutions to manage portfolio holdings, extend investment periods and provide optionality to limited partners.
Secondary transactions can include the sale of existing fund interests, continuation vehicles, sponsor-led restructurings and other transactions designed to create liquidity for investors while allowing selected assets to remain under existing management.
Continuation funds have become an especially important part of the market as private equity sponsors seek additional time to hold high-performing portfolio companies beyond the traditional life of a fund.
These transactions can involve complex negotiations around valuation, governance, financing and conflicts management, creating demand for legal advisers with specialized secondaries experience.
Coates’ addition gives Kirkland additional senior capacity as the firm continues building out its secondaries platform across sponsor-led and investor-led transactions.
The broader secondaries market has expanded as private capital assets have grown and investors have sought more flexible ways to manage liquidity across private equity, private credit and other alternative investment strategies.
For fund managers, secondaries can provide an alternative to a conventional asset sale, while investors may use the market to rebalance portfolios or accelerate distributions.
Kirkland’s continued investment in the practice reflects the growing importance of secondaries as a core component of private markets activity rather than a niche liquidity solution.
KEY QUOTE:
“I am delighted to share that I have joined Kirkland & Ellis as a Partner in its market-leading Secondaries team. I am very much looking forward to helping contribute to the group’s continued growth and working closely with Ted Cardos, Aleks Bakic, Amrit Sagoo and the rest of this fantastic team in the secondaries and liquidity solutions space.”
Edward Coates, Partner At Kirkland & Ellis
