The financial investor of ProSiebenSat.1 Media SE, SevenVentures GmbH, has sold a majority of the investments in its media-for-equity portfolio to the US private equity fund Lexington Partners. The transaction volume is in the mid double-digit million range.

In the course of the transaction, SevenVentures GmbH and other affiliate companies contribute up to 16 minority investments to the newly established fund “Crosslantic Capital I”. Lexington Partners acquires a majority interest in Crosslantic Capital I. SevenVentures GmbH remains a strategic investor in Crosslantic Capital I with a minority interest of approx. 24.5%.

The manager of Crosslantic Capital I will be Sascha van Holt, who until now as managing director has headed the investment activities of SevenVentures GmbH. In addition to managing the acquired portfolio, Crosslantic Capital I strives for follow-on investments and new investments in digital companies.

P+P Pöllath + Partners has provided comprehensive legal and tax advice to ProSiebenSat.1 on the establishment of Crosslantic Capital I and on the sale of the interest in which the portfolio was pooled, with the following team across P+P offices in Berlin and Frankfurt:

Dr. Andreas Rodin (partner, private funds, Frankfurt)
Dr. Philip Schwarz van Berk, LL.M. (partner, private funds, Berlin)
Patricia Volhard (partner, P+P Frankfurt / now at Debevoise & Plimpton)
Dr. Peter Bujotzek, LL.M. (partner, private funds/tax law, Frankfurt)
Dr. Fabian Euhus, EMBA (counsel, private funds, Berlin)
Dr. Christian Hillebrand (associate, private funds, Berlin)
Dr. Philip Mostertz, LL.M. (associate, private funds, Berlin)

Macfarlanes (London) advised the purchaser Lexington Partners. Sascha van Holt was advised by Dr. Helder Schnittker (Berlin).