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 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 team also included colleagues advising on tax, pensions and employment, antitrust and regulation.
