Kirkland & Ellis represented Garnett Station Partners (“Garnett Station” or “GSP”), a New York-based principal investment firm, on the formation and fundraising of GSP 5.0 Fund-A, L.P. and GSP 5.0 Fund-B, L.P. (collectively, the “Fund”), which achieved its hard cap of $1.2 billion in commitments and surpassed its $1 billion target. The Fund is GSP’s largest to date and aims to achieve long-term capital appreciation principally through privately negotiated investments in entrepreneur-led businesses in the franchised, multi-unit and consumer services industries. The Fund was raised over an accelerated four-month fundraising period and received strong support from new and existing GSP investors. GSP now manages over $3.5 billion in assets. The transaction was announced March 3, 2025.

The Kirkland team included investment funds lawyers Adam Aramati, David Sherman, Patrick Choi, Emmett DeLaney and Michael Sudano; investment funds regulatory lawyer Eric Perelman and Thomas Shelburne; investment funds ERISA lawyer Sabrina Glaser; and tax lawyers Elie Zolty and Leah Blake.