Simpson Thacher & Bartlett

TierPoint Completes New $550 Million Securitization Financing

Retrieved on: 
Mercredi, mai 8, 2024
LLP, J.P. Morgan & Co., Green bond, Jules Kroll, Guggenheim Partners, Sustainalytics, Intelligence, Simpson Thacher & Bartlett, International Capital Market Association, ABS, ICMA, Market, Growth, Latham & Watkins, Cryptocurrency

Through a wholly owned subsidiary, the company has now issued a total of $1.61 billion in asset-backed securities (ABS), inclusive of the new $550 million issuance and $1.06 billion issued in 2023.

Key Points: 
  • Through a wholly owned subsidiary, the company has now issued a total of $1.61 billion in asset-backed securities (ABS), inclusive of the new $550 million issuance and $1.06 billion issued in 2023.
  • Last year’s ABS issuance was the largest in the U.S. data center sector since 2021.
  • Full details of the Green Finance Framework, as well as an external review by Sustainalytics, are available on TierPoint’s website .
  • Simpson Thacher & Bartlett LLP served as counsel to TierPoint and Latham & Watkins LLP as counsel to Guggenheim.

Alight Names Two New Independent Directors, Dave Guilmette and Coretha Rushing, to its Board of Directors

Retrieved on: 
Lundi, mai 6, 2024
Software, Data Analytics, Human Resources, Internet, Finance, Professional Services, Technology, Other Technology, Sale, Agreement, HR, Research, HCM, Human, Chairperson, Simpson Thacher & Bartlett, Professional services, Port and starboard, Halshany, Growth, Management

Alight, Inc. (NYSE: ALIT) (“Alight” or the “Company”), a leading cloud-based human capital and technology services provider, today announced the appointment of Dave Guilmette and Coretha Rushing as independent directors to its Board of Directors (the “Board”), effective immediately.

Key Points: 
  • Alight, Inc. (NYSE: ALIT) (“Alight” or the “Company”), a leading cloud-based human capital and technology services provider, today announced the appointment of Dave Guilmette and Coretha Rushing as independent directors to its Board of Directors (the “Board”), effective immediately.
  • During this process, Starboard will have the ability to submit candidates for the Board’s consideration and meet final candidates.
  • William P. Foley, II, Chair of the Board, said, “We are pleased to welcome Dave and Coretha to the Board.
  • Dave and Coretha each bring a wealth of industry, operations, and governance expertise that will allow them to contribute from day one.

Perficient to be Acquired by EQT for Approximately $3.0 Billion

Retrieved on: 
Dimanche, mai 5, 2024
Professional Services, Technology, Other Technology, Software, Consulting, Internet, LLP, Wells Fargo, Partnership, Kirkland & Ellis, TD Securities, EQT AB, Simpson Thacher & Bartlett, EQT, BofA Securities, Growth, Cryptocurrency

Upon completion of the transaction Perficient’s shares will no longer trade on the NASDAQ, and Perficient will become a private company.

Key Points: 
  • Upon completion of the transaction Perficient’s shares will no longer trade on the NASDAQ, and Perficient will become a private company.
  • In light of the announced transaction with EQT Asia, Perficient has canceled the scheduled conference call.
  • BofA Securities is serving as lead financial advisor and Wells Fargo as financial advisor to Perficient in connection with the transaction.
  • J.P. Morgan and TD Securities are serving as financial advisors to EQT, and Simpson Thacher & Bartlett LLP is acting as legal advisor.

KKR to Acquire Healthium from Apax Funds

Retrieved on: 
Lundi, mai 6, 2024
Finance, Surgery, Medical Devices, Health, Professional Services, Medtech, CFO, Investment, Partner, Simpson Thacher & Bartlett, AZB & Partners, AZB, JB, Partnership, Arthroscopy, Kirkland & Ellis, Knowledge, Moelis & Company, Jefferies Group, Acquisition, KKR, Multimedia, Growth, PHC, Video game

KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Healthium Medtech Ltd. (“Healthium”), a leading Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm.

Key Points: 
  • KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Healthium Medtech Ltd. (“Healthium”), a leading Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm.
  • The acquisition will be made by a special purpose vehicle owned by KKR-managed funds which will acquire a controlling interest in Healthium group, including Healthium.
  • The Apax Funds acquired Healthium in 2018 and transformed the company from a domestic suture player into a global medical devices leader.
  • Apax Partners and Healthium were advised by Jefferies LLC as financial advisor and Kirkland & Ellis LLP as legal counsel.

Synopsys Enters Definitive Agreement to Sell its Software Integrity Business to Clearlake Capital and Francisco Partners

Retrieved on: 
Lundi, mai 6, 2024
Sale, Investment, Partner, Francisco Partners, Silicon, Barclays, Deutsche Bank, Intelligence, Entrepreneurship, Software, Engineering, Automation, Environment, Partner (business rank), SNPS, Simpson Thacher & Bartlett, Organization, Growth

SUNNYVALE, Calif., May 6, 2024 /PRNewswire/ -- Synopsys, Inc. (NASDAQ: SNPS) today announced it has entered into a definitive agreement with Clearlake Capital Group, L.P. ("Clearlake") and Francisco Partners, two global private equity firms, for the sale of its Software Integrity Group business in a transaction with a total value of up to $2.1 billion, including up to $475 million in cash payable upon Francisco Partners and Clearlake achieving a specified rate of return in connection with one or more liquidity transactions. Upon completion of the transaction, the business will emerge as a newly independent application security testing software provider.

Key Points: 
  • The existing Software Integrity Group management team is expected to lead the newly independent, privately held company after the transaction closes.
  • Synopsys is committed to a seamless transition for the Software Integrity Group team, customers, and partners.
  • "Clearlake and Francisco Partners have a strong track record of success investing in growing software platforms and are ideal partners to continue growing this business as an independent, world-class software security provider," said Sassine Ghazi, president and CEO of Synopsys.
  • Synopsys' Software Integrity Group provides integrated software solutions that transform the way development teams build and deliver software, accelerating innovation while addressing business risk.

Apollo’s ATLAS SP Announces Investment from MassMutual

Retrieved on: 
Mercredi, avril 24, 2024
MassMutual, Ecosystem, Investment, Barings LLC, Risk, APO, Simpson Thacher & Bartlett, Aviation, ATLAS, ADIA, ABF

NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and MassMutual today announced that MassMutual has become a minority equity owner in ATLAS SP Partners (ATLAS) and a capital partner to the ATLAS platform.

Key Points: 
  • NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and MassMutual today announced that MassMutual has become a minority equity owner in ATLAS SP Partners (ATLAS) and a capital partner to the ATLAS platform.
  • As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s Asset-Backed Finance (ABF) franchise.
  • These investments will allow MassMutual to access predominately investment-grade, asset-backed credit originated by ATLAS SP and across the broader Apollo ecosystem, alongside Apollo’s retirement services businesses.
  • The commitments will also bolster ATLAS SP’s capacity to provide warehousing and other investment grade asset-backed solutions to the more than 200 financing clients of ATLAS SP.

Practising Law Institute Holds Elections for Board of Trustees at Annual Meeting

Retrieved on: 
Mercredi, avril 24, 2024
Chairperson, Practising Law Institute, Oliver Cromwell, Simpson Thacher & Bartlett, Senior, Annual general meeting, First Department, PLI, Sullivan & Cromwell, Trustee, New York Supreme Court, AIG, Appellate Division, Supreme court

NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- At the Annual Meeting of the Board of Trustees of Practising Law Institute (PLI), held on April 17, 2024, the following Trustees were reelected for a three-year term: Dawson Horn, III, AIG; Hon.

Key Points: 
  • NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- At the Annual Meeting of the Board of Trustees of Practising Law Institute (PLI), held on April 17, 2024, the following Trustees were reelected for a three-year term: Dawson Horn, III, AIG; Hon.
  • Dianne T. Renwick, New York State Supreme Court, Appellate Division, First Department; Samuel W. Seymour, Sullivan & Cromwell LLP; and Lynn K. Neuner, Simpson Thacher & Bartlett LLP, who also was reelected Vice Chair of the Board for an additional year.
  • At the meeting, the following PLI staff members were reelected as Officers: Sharon L. Crane, President; Alan G. Cohen, Chief Business Officer; Craig A. Miller, Senior Vice President; Kara L. O'Brien, Chief Content Officer; Joan D. Sternberg, Senior Vice President; Christopher Rousseau, Chief Information Officer; Emilia Sima, Treasurer and Chief Financial Officer; David M. Smith, Chief Marketing Officer; and Samantha Goldsberry, Secretary.

Ducommun Incorporated Rejects Unsolicited, Non-Binding Indication of Interest From Albion River

Retrieved on: 
Mardi, avril 16, 2024
Sale, DCO, RBC Capital Markets, Simpson Thacher & Bartlett, Acquisition, COVID-19, Management

SANTA ANA, Calif., April 16, 2024 (GLOBE NEWSWIRE) --  Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a global supplier of innovative electronic systems and structural solutions for the aerospace and defense industry, today responded to an unsolicited, non-binding indication of interest dated April 1, 2024 from Albion River LLC (“Albion River”), a private direct investment firm, to acquire all outstanding shares of Ducommun for $60.00 per share in cash. The Board of Directors has unanimously determined it is not in the best interests of the Company and Ducommun shareholders to pursue further discussions regarding the proposal.

Key Points: 
  • SANTA ANA, Calif., April 16, 2024 (GLOBE NEWSWIRE) --  Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a global supplier of innovative electronic systems and structural solutions for the aerospace and defense industry, today responded to an unsolicited, non-binding indication of interest dated April 1, 2024 from Albion River LLC (“Albion River”), a private direct investment firm, to acquire all outstanding shares of Ducommun for $60.00 per share in cash.
  • The Board of Directors has unanimously determined it is not in the best interests of the Company and Ducommun shareholders to pursue further discussions regarding the proposal.
  • Our Board of Directors and management will continue to listen to all Ducommun shareholders and act in their collective best interests.
  • RBC Capital Markets, LLC is acting as a financial advisor to Ducommun, and Simpson Thacher & Bartlett LLP is acting as legal counsel.

Blackstone Real Estate Completes Privatization of Tricon

Retrieved on: 
Mercredi, mai 1, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, REIT, Indian stock exchange, LLP, J.P. Morgan & Co., TCN, Wells Fargo, News, Capital market, RBC Capital Markets, Schedule, TSX, Partnership, TD Securities, Toronto Stock Exchange, Simpson Thacher & Bartlett, Transaction, PJT Partners, BofA Securities, Scotiabank, BX, Goodmans, Committee, Letter

Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced the closing of the previously-announced statutory plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Blackstone Real Estate Partners X (“BREP X”), together with Blackstone Real Estate Income Trust, Inc. (“BREIT”), acquired all of the outstanding common shares of Tricon (“Common Shares”) for $11.25 per Common Share in cash (the “Transaction”) for a total equity transaction value of $3.5 billion.

Key Points: 
  • Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced the closing of the previously-announced statutory plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Blackstone Real Estate Partners X (“BREP X”), together with Blackstone Real Estate Income Trust, Inc. (“BREIT”), acquired all of the outstanding common shares of Tricon (“Common Shares”) for $11.25 per Common Share in cash (the “Transaction”) for a total equity transaction value of $3.5 billion.
  • "This transaction marks an exciting new chapter in Tricon’s history, one poised to deliver exceptional outcomes for our residents," said Gary Berman, President & CEO of Tricon.
  • Please see the Circular for a discussion of certain Canadian and U.S. federal income tax considerations relating to the Transaction.
  • Morgan Stanley & Co. LLC and RBC Capital Markets acted as financial advisors to Tricon.

T-Mobile and EQT Announce Joint Venture to Acquire Lumos and Build Out the Un-carrier’s First Fiber Footprint

Retrieved on: 
Jeudi, avril 25, 2024
Technology, Mobile, Wireless, Telecommunications, 5G, Internet, Carriers and Services, Education, Goldman Sachs, JPMorgan Chase, Person, Investment, EQT Partners, Acceleration, LLP, Risk, Annual report, Communication, Kirkland & Ellis, Form, TMUS, Simpson Thacher & Bartlett, 8-K, JV, Failure, Multimedia, Marketing, EQT, T-Mobile, Growth

View the full release here: https://www.businesswire.com/news/home/20240425723924/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240425723924/en/
    T-Mobile and EQT Announce Joint Venture to Acquire Lumos and Build Out the Un-carrier’s First Fiber Footprint (Graphic: Business Wire)
    The JV will bring T-Mobile’s retail, marketing, brand and customer experience strengths together with EQT’s fiber infrastructure investment expertise.
  • Together they will acquire Lumos’ scalable fiber network build capabilities to deliver best-in-class high-speed fiber internet connectivity to customers across the U.S. without access to fiber today.
  • This communication contains certain forward-looking statements concerning T-Mobile and the proposed transaction with EQT to acquire regional fiber company Lumos.
  • The Bank Street Group and Simpson Thacher & Bartlett LLP were exclusive advisors to Lumos and EQT Infrastructure III for the transaction.