Global law firm Clifford Chance is advising CVC and Cinven on the agreed sale of NewDay’s portfolio of consumer credit receivables to private credit funds and accounts managed by KKR, a leading global investment firm.
The transaction effectively separates NewDay’s credit balance sheet from NewDay’s origination and servicing business.
The Clifford Chance team was led by private equity partners Neil Barlow and Shimin Lee alongside securitisation partners Kevin Ingram and Adam Craig, with support from the firm’s Global Head of Private Equity Jonny Myers.
The wider team included Mark Inkester, Caitlin Hagart, Abi Birch, James McMillan, Ariel Cohen, Adam Clifton, Cristina Rice, Amelia Bennett, and Joshua Higgins, who advised on Private Equity; James Watkins and Dorin Giurgi on Securitisation; Sue Hinchliffe, Nissim Massarano, and Asli Kural on Antitrust; Nicole Hemsley and Paul Harrington on Tax; Andrew Patterson on Incentives; Paul Ellison and Paul Lenihan on Regulation; and Michael Dakin and Drew Rundus on Finance.
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