Freshfields Advises Banner Ridge on $280m Acquisition of LP Interests in True Green Capital Fund III

Freshfields advised Banner Ridge on its acquisition of limited partner interests representing approximately $280 million of capital commitments in True Green Capital Fund III, L.P., managed by True Green Capital Management, through a tender offer to the fund's existing investors. The transaction closed in September 2026.

The Private Funds & Secondaries team regularly execute on secondaries transactions of varying scales, both GP-side and buy-side. Legal 500 notes that clients praise the team as "very commercial, fast-paced, knowledgeable and good advocates for their clients," adding that "particularly their secondary practice stands out."

The Freshfields team was led by Partner Ivet Bell and includes Associate Madeline Goodlad. Partner Sarah Katz and Associate Ryan Sweeney advised on tax matters; and Partner David Nicolardi advised on regulatory matters.