Firm Represents Underwriters in $225 Million Initial Public Offering of Virtus Global-Multi-Sector Income Fund
05.14.12
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Simpson Thacher represented the underwriters, led by Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and UBS Securities LLC in connection with an initial public offering of common shares of beneficial interest of Virtus Global Multi-Sector Income Fund (the “Fund”). The offering raised approximately $225 million, including the underwriters’ overallotment.
The Fund is a newly organized, diversified, closed-end management investment company which trades on the New York Stock Exchange under the symbol “VGI.” The Fund’s investment objective is to maximize current income while preserving capital. The Fund seeks to achieve its investment objective by applying a time-tested approach and extensive credit research to capitalize on opportunities across undervalued areas of the global bond markets. Virtus Investment Advisers, Inc. is the Fund’s investment adviser and Newfleet Asset Management, LLC is the Fund’s subadviser.
The Simpson Thacher team for the transaction included: Sarah Cogan, Rafael Vasquez, Megan Vasios and Kai Fan (Capital Markets); Joyce Xu, Alina Casner and A. Reid Monroe-Sheridan (Derivatives); Jonathan Cantor, Christian Miller and Devin Heckman (Tax) and Jennie Getsin (Blue Sky).