News & Events

Simpson Thacher is representing Collegiate Funding Services, Inc. (NASQ: CFSI) in its sale to JPMorgan Chase. The acquisition was announced on December 15, 2005. A subsidiary of JPMorgan Chase will acquire all of the outstanding shares of Collegiate Funding Services, Inc. for $20.00 per share in cash, or approximately $663 million. The Lightyear Fund, L.P., which is the largest shareholder of Collegiate Funding Services has agreed to vote its shares in favor of the transaction. 

Collegiate Funding Services, Inc. is a leading education finance company dedicated to providing students and their families with the practical advice and loan solutions they need to help manage and pay for the cost of higher education. Collegiate Funding Services also offers a comprehensive portfolio of education loan products and services. As of September 30, 2005, Collegiate Funding Services had facilitated the origination of more than $21 billion in education loans and was servicing $12 billion in student loans form more than 476,000 borrowers.

The Simpson Thacher team includes Pete Ruegger, Caroline Gottschalk, Elena Centeio, Ken Young and Anthony Vernace (M&A); Michael Nathan (Capital Markets); Jamin Koslowe (Executive Compensation and Employee Benefits); Charlie Rappaport (Tax); Lori Lesser and Robyn Rahbar (Intellectual Property). Valuable assistance was provided by paralegal Kristen Colello.