Simpson Thacher represented the underwriters, led by joint bookrunners, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, in a secondary offering by certain funds affiliated with Apollo Global Management, LLC (“Apollo”) of an aggregate of 40,250,000 shares (including the exercise of the over-allotment option in full by the underwriters) of Realogy Holdings Corp.’s (“Realogy”) common stock. The offering raised aggregate net proceeds of approximately $1.7 billion. After giving effect to this transaction, funds affiliated with Apollo will continue to hold approximately 25.2 million shares of Realogy’s common stock, representing approximately 17% of its outstanding shares.
Realogy is the preeminent and most integrated provider of residential real estate services in the U.S. It is the world’s largest franchisor of residential real estate brokerages with some of the most recognized brands in the real estate industry, the largest owner of U.S. residential real estate brokerage offices, the largest U.S. and a leading global provider of outsourced employee relocation services and a significant provider of title and settlement services.
The Simpson Thacher team included Art Robinson, Marisa Stavenas, David Azarkh and Nirav Mehta (Capital Markets); Jonathan Cantor and Vanessa Cohen (Tax); Jeanne Annarumma and Grace Lin Wirth (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); Mindy Lok (Intellectual Property); Mardi Merjian (Real Estate); Michael Isby (Environmental) and Jennie Getsin (FINRA and Blue Sky).