News & Events 03.03.25 ICG Raises $11 Billion for its Fifth GP-Led Secondaries Program Simpson Thacher represented ICG in the establishment of its fifth GP-led secondaries fund program, ICG Strategic Equity Fund V (“ICGSE V”). ICG announced that ICGSE V, together with its related vehicles, received $11 billion of capital commitments and was oversubscribed at its increased hard cap, materially surpassing its original $6 billion target and more than doubling its predecessor fund program, which Simpson Thacher also advised ICG on. Since its inception in 2014, ICG Strategic Equity... Simpson Thacher represented ICG in the establishment of its fifth GP-led secondaries fund program, ICG Strategic Equity Fund V (“ICGSE V”). ICG announced that ICGSE V, together with its related vehicles, received $11 billion of capital commitments... Simpson Thacher represented ICG in the establishment of its fifth GP-led secondaries fund program, ICG Strategic Equity Fund... Read more... 02.25.25 Blackstone Infrastructure to Acquire Safe Harbor Marinas in $5.65 Billion Transaction Simpson Thacher is representing funds managed by Blackstone Infrastructure in connection with the financing of its acquisition of Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, from Sun Communities, Inc for $5.65 billion, pursuant to a definitive agreement entered into on February 24, 2025. Simpson Thacher is also representing Blackstone Infrastructure in connection with regulatory matters related to the acquisition. Safe Harbor owns and operates... Simpson Thacher is representing funds managed by Blackstone Infrastructure in connection with the financing of its acquisition of Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, from Sun Communities,... Simpson Thacher is representing funds managed by Blackstone Infrastructure in connection with the financing of its... Read more... 02.12.25 TD Bank Completes $14.4 Billion Sale of Schwab Stock Simpson Thacher represented The Toronto-Dominion Bank (“TD Bank”), as selling stockholder, in connection with a secondary offering of common stock of The Charles Schwab Corporation (“Schwab”) and concurrent share repurchase by Schwab. The offering raised approximately $12.9 billion in net proceeds, before expenses, and the share repurchase was for a total purchase price of $1.5 billion. As a result, TD Bank has disposed of all its shares in Schwab, which were acquired in connection with... Simpson Thacher represented The Toronto-Dominion Bank (“TD Bank”), as selling stockholder, in connection with a secondary offering of common stock of The Charles Schwab Corporation (“Schwab”) and concurrent share repurchase by Schwab. The offering... Simpson Thacher represented The Toronto-Dominion Bank (“TD Bank”), as selling stockholder, in connection with a secondary... Read more... 02.07.25 Mattress Firm/Tempur Sealy Close Transaction Following Antitrust Win Against FTC On January 31, 2025, Simpson Thacher secured a win for Mattress Firm Group Inc. in the Southern District of Texas when U.S. District Judge Charles Eskridge denied the FTC’s motion for a preliminary injunction to block Mattress Firm’s acquisition by Tempur Sealy International, Inc. Contrary to the FTC’s allegations that “millions of Americans would likely face higher prices, lower quality, and fewer choices,” the Court found that the acquisition is “either neutral or procompetitive” and “in the... On January 31, 2025, Simpson Thacher secured a win for Mattress Firm Group Inc. in the Southern District of Texas when U.S. District Judge Charles Eskridge denied the FTC’s motion for a preliminary injunction to block Mattress Firm’s acquisition by... On January 31, 2025, Simpson Thacher secured a win for Mattress Firm Group Inc. in the Southern District of Texas when U.S.... Read more... 01.14.25 Macquarie to Invest Up to $5 Billion in Applied’s HPC Data Centers Simpson Thacher is representing Macquarie Asset Management (“MAM”) in its investment of up to $5.0 billion in the high performance computing (“HPC”) data center business of Applied Digital Corporation (“APLD”), a designer, builder and operator of next-generation digital infrastructure. The investment will support the development of APLD’s HPC data center pipeline. Funds managed by MAM will invest up to $900 million in APLD’s Ellendale HPC data center campus in the form of a perpetual preferred... Simpson Thacher is representing Macquarie Asset Management (“MAM”) in its investment of up to $5.0 billion in the high performance computing (“HPC”) data center business of Applied Digital Corporation (“APLD”), a designer, builder and operator of... Simpson Thacher is representing Macquarie Asset Management (“MAM”) in its investment of up to $5.0 billion in the high... Read more... 12.26.24 iHeartMedia, Inc. Completes Comprehensive Debt Exchange Transactions Simpson Thacher recently represented iHeartMedia, Inc. (the “Company”) in comprehensive strategic exchange offers and consent solicitations for the Company’s existing term loans, senior secured notes, and senior unsecured notes. Pursuant to the exchange transactions, approximately $4.8 billion (or 92.2%) of the aggregate principal amount of the Company’s existing debt was exchanged into new debt instruments with extended maturities. As a result of the exchange transactions, the maturities on... Simpson Thacher recently represented iHeartMedia, Inc. (the “Company”) in comprehensive strategic exchange offers and consent solicitations for the Company’s existing term loans, senior secured notes, and senior unsecured notes. Pursuant to the... Simpson Thacher recently represented iHeartMedia, Inc. (the “Company”) in comprehensive strategic exchange offers and... Read more... 12.19.24 Simpson Thacher Obtains Dismissal of LIBOR Case in Ninth Circuit On December 9, 2024, Simpson Thacher secured a win in the Ninth Circuit, when the court affirmed the dismissal with prejudice of a LIBOR conspiracy case filed against client JPMorgan in the Northern District of California. In 2020, a group of credit card borrowers and loan consumers filed suit against JPMorgan, along with other banks and financial institutions, alleging a conspiracy to fix the LIBOR rate and manipulate the price of LIBOR-linked instruments. In October 2023, the U.S. District... On December 9, 2024, Simpson Thacher secured a win in the Ninth Circuit, when the court affirmed the dismissal with prejudice of a LIBOR conspiracy case filed against client JPMorgan in the Northern District of California. In 2020, a group of... On December 9, 2024, Simpson Thacher secured a win in the Ninth Circuit, when the court affirmed the dismissal with... Read more... 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