NEW YORK, August 3, 2026 – Proskauer advised Painswick Capital ("Painswick") as lead investor in the closing of Wacona Capital's ("Wacona") single-asset continuation vehicle for Core States Group, a leading engineering, architectural, and design services firm, with total commitments of approximately $210 million.
Painswick is a specialist investment firm primarily focused on high-performing companies within the rapidly expanding single-asset continuation vehicle market. The transaction allows Wacona to continue its sponsorship of Core States Group and its partnership with the company's best-in-class executive leadership team, while providing liquidity to its existing investors.
The Proskauer team was led by partner Blake Halperin and associates Alex Starr and Rebecca Elsner (Private Funds); partner Mike Ellis and associates Jordan Shelton and Ben Childress (M&A); partners Phil Lenertz and Jeremy Naylor and associate Mike Shelton (Tax); and partner John Ingrassia (Antitrust).