Simpson Thacher represented funds managed by Blackstone’s GP Stakes business in connection with the announced strategic partnership with Sentinel Capital Partners alongside RidgeLake Partners. Terms of the transaction were not disclosed.
Blackstone’s GP Stakes business specializes in value-added, long-term partnerships with leading private-market alternative asset managers. The partnership will give Sentinel’s portfolio companies access to Blackstone’s group purchasing programs, which leverage the buying power of the $150 billion revenue base across Blackstone’s entire investment platform. Sentinel will also be able to draw from a wide range of other services Blackstone provides internally and to its portfolio companies, including sustainability, ESG and cybersecurity.
Sentinel specializes in buying and building midmarket businesses in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, going-private transactions, and structured equity investments of established businesses with EBITDA of up to $80 million. Sentinel also invests in special situations, including balance sheet restructurings, operational turnarounds, and minority junior capital solutions.
The Simpson Thacher team includes Matthew Rogers and Rex Hupy (M&A); Crystal Frierson and Scott Mishan (Funds and Funds Compliance); Benjamin Rippeon and Eli Shalam (Tax); and Jamin Koslowe (Executive Compensation and Employee Benefits).