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Simpson Thacher recently represented a group of underwriters in connection with a follow-on offering of common shares of Guggenheim Strategic Opportunities Fund. The offering raised approximately $29 million, including the underwriters’ overallotment. Guggenheim Strategic Opportunities Fund is a diversified, closed-end management investment company that commenced operations on July 26, 2007.  The lead underwriters in the transaction were Citigroup Global Markets Inc, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC.

The Fund’s investment objective is to maximize total return through a combination of current income and capital appreciation. The Fund pursues a relative value-based investment philosophy, which utilizes quantitative and qualitative analysis to seek to identify securities or spreads between securities that deviate from their perceived fair value and/or historical norms. Guggenheim Funds Investment Advisors, LLC serves as the Fund’s investment adviser and Guggenheim Partners Asset Management, LLC is the Fund’s sub-adviser.

The Simpson Thacher team included Sarah Cogan, Rafael Vasquez, Seth Niedermayer and Chelsea Freeman (Capital Markets); and Jonathan Cantor and Christian Miller (Tax).