Simpson Thacher represented Blackstone in the establishment of its fourth flagship commingled fund for its opportunistic investment strategy, Blackstone Tactical Opportunities (“BTO IV”), which raised $5.2 billion of capital commitments. Including other single-investor vehicles pursuing the same strategy, the combined BTO IV platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage and will be the largest-ever vintage of its kind.
Blackstone launched its Tactical Opportunities (“Tac Opps”) platform – a strategy the firm pioneered – in 2012 to invest across the landscape of private investment opportunities outside of traditional private equity and private credit. Today, Tac Opps has $34 billion of assets under management and represents the largest opportunistic investment platform in the world.
The Simpson Thacher team included Michael Wolitzer, Peter Gilman, Linda Tieh, Matthew Leighton, Jeannette Figg, Javier Rivera-Alvarado, Kara Krakower, Manas Kumar, Gilbert Cheng, Siwei Yang, Analilia Gomez, Samuel Boissard, Avalee Hagerty, Enzo Salamone, Lena Dennington, Emily Friedman, Christopher Haughey, Sophie Sujin Kim and John Charles (Private Funds); Jonathan Goldstein, Jodi Schneider, Adam Hersch, Tova Pfeffer and Mohanad Salaimi (Tax); Jennifer Levitt, Thomas Howland, Jackson Sullivan and Eszter Boldis (Credit); and Jeanne Annarumma (ERISA).