Brian has broad experience counseling alternative investment management firms on transactions and other matters of strategic importance and is a frequent author and speaker on topics affecting the private equity and alternative asset management industry.
Brian was named to the 2021 “40 Under 40: Future Leaders of Private Equity” list by Private Equity International, where he was only one of just four honorees from leading law firms recognized. Brian was also named a 2022 “Emerging Leader” by The M&A Advisor and a 2022 “Rising Star” for M&A by Expert Guides. Brian was named a 2020 Secondaries “Next Generation Leader” by Secondaries Investor, where clients note he is “…a star and would not consider a transaction without him as counsel.”
Prior to joining Weil, Brian spent over six years at Goldman Sachs where he was responsible for executing strategic M&A on behalf of Goldman Sachs Asset Management and advised multiple business units (growth equity, secondaries and GP-stakes) on investing activities and private fund matters.
Asset Management and Financial Services
- Regular representation of sponsors and the “buy-side” on GP-led secondary transactions and GP-stake sales
- Brookfield Asset Management in various matters, including:
- the separation of Brookfield Corporation and Brookfield Asset Management Ltd. and the listing of a 25% interest in Brookfield Asset Management Ltd, resulting in a standalone asset management business with a $50 billion market capitalization as of the separation date
- the $4.8 billion acquisition of a 61.2% stake in Oaktree Capital Group, LLC
- the acquisition of DWS’ Private Equity Secondaries business
- Goldman Sachs in various matters, including:
- as the founding and largest shareholder of Global Atlantic Financial Group Limited, in KKR’s acquisition of a controlling interest in Global Atlantic in a transaction valued at approximately $4.7 billion
- the acquisition of NextCapital Group, Inc.
- the acquisitions of Rocaton Investment Advisors, Aptitude Investment Management, Honest Dollar, Imprint Capital, Pacific Global Advisors’ OCIO business, Verus Investors’ OCIO business and Deutche Bank’s stable value business and the dispositions of GSAM Australia’s equity business to TA Associates and GSAM India’s mutual fund business to Reliance Capital (as in-house counsel)
- TPG in various matters, including:
- its $1.1 billion initial public offering and related reorganization and governance matters
- its agreement with Sixth Street Partners, to become independent, unaffiliated businesses, with TPG retaining a passive minority economic stake in Sixth Street
- its TPG NEXT platform
- CBAM in the sale of a portfolio of its assets to The Carlyle Group, in a transaction valued at approximately $800 million
- Genstar Capital, together with TA Associates, in the acquisition of Orion Advisor Solutions and the simultaneous acquisition of Brinker Capital
- InfraRed Capital Partners in its $396 million sale of a majority stake to Sun Life Financial Inc.
- Thomas H. Lee Partners in the sale of THL Credit Advisors LLC to First Eagle Investment Management, LLC
- Allied Capital Corp. in its $650 million all-stock merger with Ares Capital Corporation
- IPC Holdings in its $1.7 billion sale to Validus Holdings
- Sempra Energy in the sale of its RBS-Sempra natural gas and power trading joint venture to J.P. Morgan
- AB InBev in connection with its sale of Busch Entertainment to Blackstone for $2.3 billion
- Bridgeport Partners, as co-investor with Orangewood Partners, in Orangewood’s acquisition of Pacific Bells, LLC
- Campbell Soup Company in its $2.2 billion sale of Campbell International to KKR and its sale of Kelsen Group A/S
- Gildan Activewear in connection with its acquisitions of GoldToe Moretz from Blackstone for $350 million and its acquisition of Anvil for $88 million
- Stripes Group, as sponsor, in the formation of Stripes Continuation Fund I, LP and in such fund's single asset acquisition of Stella & Chewy’s, LLC
- Alcon and Alcon’s independent directors in connection with its sale of Nestle’s Alcon stake to Novartis and Novartis’ acquisition of the remaining publicly held minority interest in Alcon for $52.9 billion
- Avista Capital Partners in the acquisition of WellSpring Consumer Healthcare
- Cimarron Healthcare Capital in the formation of a single asset continuation vehicle for Advanced Medical Pricing Solutions Inc.
- UnitedHealth in connection with its acquisition of XLHealth from Matlin Paterson
- AT&T in the sale of its Advertising Solutions and AT&T Interactive businesses to Cerberus
- CIC International, Boyu and CITIC Capital, as lead investors, in connection with the equity financing of Alibaba’s repurchase of Yahoo!’s stake in Alibaba
- GS Acquisition Holdings Corp II, a SPAC sponsored by an affiliate of Goldman Sachs, in its $2.6 billion business combination with Mirion Technologies, Inc. (at the time, a portfolio company of Charterhouse Capital Partners)
- Verifone Systems in its $1 billion acquisition of Point and the acquisitions of ChargeSmart, Global Bay Mobile Technologies and the assets of Show Media
Brian received his J.D., magna cum laude and as a member of the Order of the Coif, from New York University School of Law and his B.A., magna cum laude and Phi Beta Kappa, from the University of Delaware.
*Includes matters handled prior to joining Weil.
Awards and Recognition, Speaking Engagements, Guides and Resources, Latest Thinking, Firm News & Announcements
Awards and Recognition
- Brian Parness Named a 2022 “Emerging Leader” Award Brief — The M&A Advisor
- Brian Parness Named a 2022 “Rising Star” for Mergers & Acquisitions Award Brief — Expert Guides
- Brian Parness Named Among the 2021 “40 Under 40: Future Leaders of Private Equity” Award Brief — Private Equity International
Sahar Global Summits’ 4th Annual Secondaries & Co-Investments Summit
September 22, 2022 — New York, NY — Weil Private Equity partner Brian Parness interviewed keynote speaker Michael Bego, Founder & Managing Partner of Kline Hill Partners, as part of Sahar Global Summits’ 4th Annual Secondaries & Co-Investments Summit.
Creative Financing Solutions to Support Portfolio Companies in Challenging Times: Fund-Level Preferred Equity
Blog Post — Global Private Equity Watch
— April 06, 2020
In the wake of COVID-19’s disruption and the attendant uncertainty with respect to future liquidity needs and available funding sources, numerous private equity firms have encouraged their portfolio companies to draw down on their credit lines. With many credit lines fully drawn and, as the current crisis continues to evolve, we expect private equity sponsors […] ...
Firm News & Announcements
- Thirteen Weil Attorneys Named 2022 Rising Stars by Expert Guides Firm Announcement — October 11, 2022
- Four Weil Partners Named 2022 Emerging Leaders by The M&A Advisor Firm Announcement — June 28, 2022