Simpson Thacher Represents Lehman Brothers in Establishing $670 Million Loan Opportunity Fund
10.31.07
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Simpson Thacher represented Lehman Brothers in the establishment of Lehman Brothers Loan Opportunity Fund LP, which raised approximately $670 million (including commitments by Lehman Brothers and certain eligible employees). The fund may employ leverage in an amount of 3.5 times total capital commitments, resulting in a potential aggregate capitalization of approximately $3.0 billion. The fund, which was formed to capitalize on recent dislocations in the credit markets, will primarily make investments in first lien leveraged loans.
The Simpson Thacher team representing Lehman Brothers included Glenn Sarno, Jason Herman, Chi Shum, Huaying Qi, Nentcho Nentchev, Luc Jansen, Yueting Liang, Salvatore Gagliardi and Ying Zhang (corporate); Jeanne Annarumma (ERISA); John Hart (tax); Frank Huck, Mary Touchstone and Joyce Xu (credit); Mark Lab and Sean Cotton (blue sky) and Christine Terada and Eliza Pike (paralegal).