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Simpson Thacher was the top legal advisor in Private Equity International’s (PEI) Fund Formation League Table rankings by total value, advising on funds that raised more than $187 billion. The Firm was highlighted for its role advising on EQT X, which closed at €22 billion and was the largest fund to close in 2024, as well as on Lexington Capital Partners X, which closed at $22.7 billion, New Mountain Partners VII, which closed at $15.4 billion and Eighth Cinven Fund, which closed at $14.5 billion. The rankings cover blind pool private equity funds and continuation funds from October 2023 to September 2024.

Michael Wolitzer, Head of the Firm’s Investment Funds Practice, was also quoted in the article, noting, “Over the past year, the trend towards consolidation in the industry continued, with fewer successful sponsors raising more money, and there is no reason for us to believe this will change.” He also explained how GPs are continuing to focus on deploying dry powder and returning distributions, which was reflected in last year’s figures showing investments and exits were up.

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