White & Case advises Oaktree and Cornerstone on sale of Avenga

Press Release
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Global law firm White & Case LLP has advised Oaktree Capital Management, L.P. (Oaktree) and Cornerstone Investment Management L.P. (Cornerstone) on the sale of Avenga to KKCG, a European investment and innovation group.

"Our role advising Oaktree and Cornerstone on this successful transaction follows Avenga's journey to become an international player within the growing IT and digital transformation market," said White & Case partner Will Summers, who led the Firm's deal team. "This transaction highlights our ability to advise both private equity firms and their portfolio companies on their complex cross-border transactions."

Headquartered in Germany and with offices in 31 locations globally, Avenga is an end-to-end software engineering and consulting platform. The company is focused on digital transformation and custom software development and employs over 3,800 highly skilled professionals with a significant global delivery footprint.

Oaktree is a global investment manager specialising in alternative investments, with US$183 billion in assets under management as of September 30, 2023.

Founded in 2001, Cornerstone Investment Management is a private equity investment management firm with assets under management of €10 billion.

The White & Case team which advised on the transaction was led by partner Will Summers (London) and included partners Hans-Georg Schulze (Berlin), Marek Sawicki (Warsaw), Jonathan Weinberg (Prague), Colin Harley, Will Smith, Michael Engel (all London) and Bodo Bender (Frankfurt), counsel Klaudia Malczewska (Warsaw), and associates Michael Skouras, Joshua Crawley, Valeriya Anopchenko, Alec Buchanan (all London), Fabian Mayer (Berlin) and Aleksandra Rajek (Warsaw). White & Case partner Michael Weir and associate Irina Fogarty (both London) advised the Avenga management team on the transaction.

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