Simpson Thacher Advises The Blackstone Group on Its Landmark IPO
06.27.07
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Simpson Thacher has advised Blackstone on its $4.8 billion initial public offering of common units representing limited partner interests in The Blackstone Group L.P. (including common units purchased by the underwriters pursuant to their over-allotment option) and on its concurrent sale of $3 billion of non-voting common units to an investment vehicle established by the People’s Republic of China with respect to its foreign exchange reserves. The common units began trading on June 22, 2007 on the New York Stock Exchange under the symbol “BX.”
The Blackstone IPO – the largest U.S. IPO in five years and one of the largest in history – was underwritten by a syndicate of underwriters led by Morgan Stanley & Co. Incorporated, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Lehman Brothers Inc. and Deutsche Bank Securities Inc.