Simpson Thacher Represents Walter Investment Management in Entry Into a Strategic Relationship and Acquisition of Urban Financial
07.31.13
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The Firm is representing Walter Investment Management Corp. (NYSE: WAC) ("Walter Investment") in connection with its entry into a strategic relationship with UFG Holdings, LLC (“UFG”), a newly formed company controlled by Brian Libman, Walter Investment’s Chief Strategy Officer, and the acquisition by UFG of Urban Financial Group, LLC ("Urban"), a wholly owned subsidiary of KCG Holdings, Inc. (NYSE: KCG). Subject to the closing of the purchase of Urban, Walter Investment will make an unsecured loan to UFG and receive warrants entitling Walter to purchase up to 19% of the common units of UFG. The closing of the transaction is expected to occur during the fourth quarter of 2013.
The Simpson Thacher team includes Peter Gordon, Jim Cross, John O’Connell and Wabi Jain (M&A); Adam Wells (Tax); David Rubinsky and Jennifer Pepin (Executive Compensation and Employee Benefits); Lori Lesser and Sharo Atmeh (Intellectual Property); and Shari Ness (Capital Markets).