Simpson Thacher represented the underwriters, led by joint bookrunning managers Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Barclays Capital Inc., in connection with the initial public offering by Laureate Education, Inc. of 35,000,000 shares of its Class A common stock, which raised approximately $465.5 million in net proceeds. This marked the first IPO of a public benefit corporation.
Laureate is the largest global network of degree-granting higher education institutions, with more than one million students enrolled across 71 institutions in 25 countries on more than 200 campuses. In 1999, Laureate Education made its first investment in higher education and, since that time, it has developed into the global leader in higher education. Laureate offers high-quality undergraduate, graduate and specialized programs in a wide range of disciplines that provide attractive employment prospects.
The Simpson Thacher team for this transaction included Joseph Kaufman, David Azarkh, Erica Lee, Michael Panzer and Pablo Richards (Capital Markets); Aimee Adler, Eric Wolf and Alina Grinman (Executive Compensation and Employee Benefits); Jennifer Nadborny and Amanda Weiss (Public Company Advisory Practice); Jonathan Cantor and George Davis (Tax); Andrew Pagliughi (FINRA & Blue Sky); Mike Isby (Environmental); and Gary Horowitz and Jonathan Stradling (M&A). Katharine Thompson, Hana Nah and Jake Phillips also provided valuable assistance.