The firm is representing Blackstone Capital Partners in its announced purchase of a minority stake in Bayview Asset Management, LLC (the “Company”), a subsidiary of Bayview Financial, L.P. (“Bayview”). Bayview currently manages a $2 billion fund that focuses on the acquisition of whole mortgage loans and mortgage backed securities. In partnership with Bayview’s management and employees, Blackstone Capital Partners has reached an agreement to purchase an interest in the Company. The terms of the transaction were not disclosed.
The transaction is expected to close on or before December 31, 2008.
The Simpson Thacher team who worked on the transaction includes: Caroline Gottschalk, Andrew Wingfield, Atif Azher, Felton Booker, Peter Walgren and Parker Kelsey (M&A); Steven DeLott (Corporate/Insurance); Gary Mandel, Meredith Jones, Sima Gandhi and Jason Vollbracht (Tax); Greg Grogan and Beth Understahl (Benefits); Michael Wolitzer and Peter Gilman (Private Funds); Lori Lesser and Mindy Lok (IP); and Philip Voss and Brendan Derr (Paralegals). Summer Associates Julia Gaffin, Will Levine and Emily Ho also provided valuable assistance.