News & Events

Simpson Thacher advised New Mountain Capital in the formation and raising of New Mountain Partners VII, L.P. Fund VII closed at its hard cap of $14 billion in third party capital commitments, and at $15.4 billion in aggregate capital commitments, including the capital commitments from New Mountain and its professionals.  New Mountain Capital is a leading growth-oriented alternative investment firm headquartered in New York. The firm currently manages private equity, strategic equity, credit and...

On June 13, 2024, the Firm secured a victory for client M&T Bank Corp. in the United States District Court for the District of Delaware in connection with a proposed investor class action related to the $3.7 billion merger between M&T Bank and Hudson City Bancorp Inc. U.S. Circuit Judge Evan Wallach, sitting by designation in the District of Delaware, denied plaintiffs’ renewed motion for class certification, which purportedly adduced new evidence in support of their theory of class-wide...

Simpson Thacher represented Waystar Holding Corp. (“Waystar”) in connection with its initial public offering of common stock at a price to the public of $21.50 per share. A total of 45,000,000 shares of common stock were sold in the offering raising approximately $909.1 million in gross proceeds. Shares of Waystar Holding Corp. are now listed on The Nasdaq Global Select Market under the ticker symbol “WAY.” Waystar’s mission is to simplify healthcare payments through its modern cloud-based...

Simpson Thacher & Bartlett LLP announced today that it will open an office in Boston, Massachusetts, and that Kenneth E. Burdon will join the Firm as a Partner in the Registered Funds Practice. “Opening an office in Boston will enhance our ability to serve our current clients and will enable us to deepen relationships with businesses across a variety of industries that have a strong presence in this key U.S. economic hub,” said Alden Millard, Chair of Simpson Thacher’s Executive Committee. “In...

Simpson Thacher is representing EQT Infrastructure III in the sale of its portfolio company Lumos to a joint venture (JV) between T-Mobile and the EQT Infrastructure VI Fund. The JV will bring T-Mobile’s retail, marketing, brand and customer experience strengths together with EQT’s fiber infrastructure investment expertise. Together they will acquire Lumos’ scalable fiber network build capabilities to deliver best-in-class high-speed fiber internet connectivity to customers across the U.S....

Simpson Thacher is representing Silver Lake Partners in connection with the announced acquisition of Endeavor Group Holdings, Inc., in partnership with the Endeavor management team and additional anchor investors. Under the terms of the agreement, Silver Lake will acquire 100% of the outstanding shares it does not already own, other than rolled interests. Endeavor is being acquired at an equity value of $13 billion and a $25 billion enterprise value. The transaction is subject to customary...

Simpson Thacher advised EQT in connection with the establishment of its tenth buyout fund, EQT X. EQT announced that the fund raised €22 billion (USD $24 billion), exceeding its €20 billion target and hitting its hard cap, having received commitments from a broad range of global investors including pension and sovereign wealth funds, asset managers, and the private wealth segment. EQT X is nearly 40% larger than its 2021 predecessor fund, EQT IX, which closed in 2021 at €15.6 billion. EQT was...