Simpson Thacher Represents the Underwriters in an Initial Public Offering by First Trust Energy Infrastructure Fund
10.20.11
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Simpson Thacher represented the underwriters, led by Morgan Stanley, Citigroup and BofA Merrill Lynch acting as representatives in connection with the initial public offering by First Trust Energy Infrastructure Fund (the “Fund”) of approximately $345 million of its common shares of beneficial interest. If the underwriters exercise the overallotment option in full, the Fund will raise approximately $395 million.
The Fund is a newly organized, non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high level of total return with an emphasis on current distributions paid to shareholders. The Fund will seek to achieve this objective by investing primarily in securities of companies engaged in the energy infrastructure sector. First Trust Advisors L.P. is the Fund’s investment advisor and Energy Income Partners, LLC is the Fund’s sub-advisor. The Fund commenced trading on September 28, 2011 on the NYSE under the ticker symbol “FIF”.
The Simpson Thacher team for the transaction included Sarah Cogan, Rafael Vasquez, Vanessa Browder and Lauren Yoon (Capital Markets); Jonathan Cantor and Christian Miller (Tax); Joyce Xu, Sunny Cheong and Reid Monroe-Sheridan (Derivatives); and Jennie Getsin (FINRA and Blue Sky).