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Simpson Thacher represented the underwriters, led by Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC, Wells Fargo Securities, LLC and Ameriprise Financial Services, Inc., in connection with the initial public offering of ING Infrastructure, Industrials and Materials Fund. The offering raised $425 million, assuming full exercise of the underwriters' option to purchase additional shares.  

The Fund is a newly organized, diversified closed-end management investment company which trades on the New York Stock Exchange under the symbol “IDE”. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund’s investment adviser is ING Investments, LLC. The Fund’s sub-adviser is ING Investment Management Co. The offering was the largest closed-end fund offering in over two years. 

The Simpson Thacher team for the transaction included Sarah Cogan, Celine Hwang, Rafael Vasquez and Rachel Dominique (Capital Markets); Jonathan Cantor and Rian Balfour (Tax); Jennie Getsin (Blue Sky and FINRA); and Joyce Xu and Yu Wang (Derivatives). Paralegals Natalie Kone and Christina Vazquez Mauricio provided valuable assistance.