Simpson Thacher & Bartlett LLP

The Firm represented Hillhouse Investment and its portfolio company Versuni in connection with refinancing transactions consisting of (i) a €1.675 billion credit facility entered into by Versuni Group B.V. and (ii) a Rule 144A/Regulation S offering of €550 million aggregate principal amount of 5.750% senior secured notes due 2033. The proceeds were used to refinance the Group’s existing credit and capital markets financings.   Read more about the deal and the team behind it: https://lnkd.in/euzd_pSY

Simpson Thacher advised Aberdeen Investments and Rock Rail in connection with the formation and closing of its c.£800 million new platform investing in the next generation of U.K. passenger trains, attracting long-term international capital into Britain’s rail network.   The first close brings together a diversified syndicate of global institutional and secondary investors, led by StepStone and Partners Group as co-lead investors, alongside a significant commitment from the sponsors, Aberdeen Investments and Rock Rail.   Read more about the Simpson Thacher deal team here: https://lnkd.in/exwZQuxE

Strong takeaways from Capital Markets Partner Heidi Mayon at the Stanford Directors' College, including why effective boards embrace dissent and view governance as judgment under uncertainty. Simpson Thacher was proud to sponsor this year's program at Stanford Law School, where Sara Razi spoke on the evolving regulatory landscape and Atif Azher led a CEO succession simulation, reflecting the breadth of issues facing boards today.

Simpson Thacher is representing Blackstone-affiliated funds managed by Real Estate, Infrastructure and Tactical Opportunities in its announced sale of a stake in three fully leased data centers containing 288 megawatts of total IT capacity in Northern Virginia at a gross value of $7.8 billion to Digital Realty, the world’s largest cloud- and carrier-neutral data center platform.   The portfolio comprises two data centers in Manassas and one on the Digital Dulles campus in Sterling, each with 96 megawatts of IT capacity, that are 100% leased to three distinct investment grade hyperscale customers.   The team is being led by Michael Chao and Sam Rudik, members of the Firm’s market-leading AI, Digital Infrastructure and Data Center group. Learn more: https://lnkd.in/enhZE7KE

Simpson Thacher is representing Bridgepoint Group plc (‘Bridgepoint’) on its acquisition of Kayne Anderson Real Estate, a leading real estate investment platform with c. $22 billion of assets under management, from Kayne Anderson Capital Advisors, L.P., among others.    The transaction is expected to close at the end of 2026, subject to shareholder approval, regulatory approvals and fund consents, and will diversify Bridgepoint’s product offering, geographic footprint and sources of recurring fee income, accelerating Bridgepoint’s long-term growth ambitions.   Read more about the deal and the team behind it: https://lnkd.in/embi7E6U

Simpson Thacher was pleased to participate in Mergermarket's AVCJ Private Equity Forum Japan 2026 in Tokyo, which brought together industry leaders to discuss developments and opportunities across the private equity landscape in Japan and globally. Partner Michelle Cheh spoke on the panel "Evolving Dynamics: The GP Stakes Proposition," sharing perspectives on investor approaches to GP stakes, key structuring considerations and the role of GP stakes in supporting manager succession. The Firm also hosted a cocktail reception in connection with the conference.   Read more: https://lnkd.in/gCrwtsaq

Simpson Thacher attorneys Ryan Brizek, Kenneth Burdon, Alan Turner and Angela Jaimes authored an article in Law360 examining the U.S. Supreme Court's recent decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., which held that private investors do not have a right of action to challenge contracts under the Investment Company Act. The article highlights significant findings from the 6–3 ruling and outlines key takeaways for registered fund professionals following the decision.     Read the full article: https://lnkd.in/ed5WsRjA

We represented New Mountain Capital in connection with its majority investment in RRC Companies. RRC Companies is a leading multi-discipline engineering and technical services firm focused on utility-scale renewable power generation, providing integrated engineering, SCADA systems integration and specialized field services for solar, wind, battery energy storage and broader power infrastructure projects, serving a diversified base of leading asset owners, developers and contractors. Read about the Simpson Thacher deal team here: https://lnkd.in/eMh2RhZh

Registered Funds Partner Kenneth Burdon joined the NAVigator Podcast with host Chuck Jaffe to discuss the U.S. Supreme Court's recent decision in FS Credit Opps. Corp. v. Saba Capital Master Fund, which held that private investors do not have a right of action to challenge contracts under the Investment Company Act.   On the podcast, Ken explains that the ruling removes a key avenue activists have used to challenge fund fees and structure and discusses how it may encourage increased issuance of closed-end funds.   Listen to the podcast here: https://lnkd.in/ekwXcgWd

Last week, Partners Javad Asghari and Sam Rudik participated at the Digital Infrastructure Finance 2.0: The Role of Private and Public Capital conference, hosted by DealCatalyst in New York City.   Javad moderated the panel “Power, Interconnection, and Capital Markets: Financing the Bottleneck,” which examined power capacity as the central constraint in data center financing. The panelists agreed that:   • Power risk is now the central bottleneck and issue in digital infrastructure deals • The market is shifting toward greater convergence between energy and data center financing models • Regulatory complexity, interconnection delays and cost inflation are driving demand for sophisticated legal and financial structuring   Sam moderated the “Structuring the Deal: JV, Land, and Development Agreements in Practice” panel, which explored the allocation of risk in modern data center deals and the evolution of joint venture structures, leases, and capital stacks. In this discussion, the key takeaways included:   • Power availability now dictates deal structure and site selection • Leases (especially IG-backed) are the core risk allocation tool • Capital stacks are becoming more complex due to scale and cost pressures • Creative financing and leasing structures are rapidly evolving • Political, permitting, and community risks are increasing significantly • Overall industry sentiment is still adapting in real time   Read more about the event: https://lnkd.in/eUi4Q-Ey