Simpson Thacher Represents Underwriters in $350 Million Initial Public Offering of DoubleLine Opportunistic Credit Fund
05.14.12
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Simpson Thacher recently represented a group of underwriters in connection with the initial public offering of DoubleLine Opportunistic Credit Fund (the “Fund”). The offering raised approximately $350 million, including the underwriters’ overallotment. The Fund is a newly organized, non-diversified, closed-end management investment company which trades on the New York Stock Exchange under the symbol “DBL”. The lead underwriters in the transaction were Wells Fargo Securities, LLC and UBS Securities LLC.
The Fund’s investment objective is to seek high total investment return by providing a high level of current income and the potential for capital appreciation. The Fund seeks to achieve its investment objective by investing in a portfolio of investments selected for their potential to provide high current income, growth of capital, or both. DoubleLine Capital LP is the Fund’s adviser.
The Simpson Thacher team for the transaction included: Sarah Cogan, Rafael Vasquez, Benjamin Wells and Townshine Wu (Capital Markets); Joyce Xu and Lisa Wang (Derivatives); Jonathan Cantor and Christian Miller (Tax); and Jennie Getsin (Blue Sky).