Simpson Thacher is representing AR Capital, LLC (“AR Capital”) in connection with its sale of a majority interest in AR Capital’s asset management business to affiliates of Apollo Global Management LLC (“Apollo”). The transaction is structured to include $378 million of consideration upfront, split between $200 million of cash and $178 million of Apollo equity, plus future performance-related contingent consideration.
AR Capital, founded in 2006, currently manages approximately $19 billion of alternative assets across a variety of listed and non-listed real estate investment trusts, business development companies, mutual funds and other partnerships.
The Simpson Thacher team includes Lee Meyerson, Elizabeth Cooper, Ravi Purushotham, Spencer Sloan and Patrick Vergara (M&A); Larry Moss, David Teigman and Samantha Steinfeld (Employee Benefits); John Hart, Drew Purcell and George Davis (Tax); Rajib Chanda (Investment Management); and Linda Nyberg (Intellectual Property).