The Firm represented United Services Automobile Association (“USAA”) in connection with its sale of a controlling interest in USAA Real Estate Company to the company’s management and a group of investors, including Paxion Capital, L.P. In connection with the transaction, Paxion and its affiliates also acquired a minority interest in US Real Estate Limited Partnership, a multi-billion dollar real estate investment fund managed by USAA Real Estate Company.
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 13 million current and former members of the U.S. military and their families.
Paxion Capital, founded and managed by James A. Davidson and Fritz H. Wolff, is a privately held investment management firm.
The Simpson Thacher team included Jonathan Corsico, Benjamin Bodurian, Hilary Albrecht, Paul Bolaji and Samantha Sergent (M&A); David Blass and Kate O'Neil (Funds); David Rubinsky and Eric Wolf (Executive Compensation and Employee Benefits); Jonathan Goldstein, Nicole Humphrey and Caroline Phillips (Tax); and Keith Noreika and Adam Cohen (Banking).