"Simpson Thacher Facilitates $550 Million Credit Continuation Vehicle for AEA Private Debt"

"Simpson Thacher advised AEA Private Debt on the successful closing of a $550 million credit continuation vehicle, led by Carlyle AlpInvest. This vehicle aims to acquire a diversified portfolio of first-lien senior secured loans from AEA's 2016 direct lending fund, primarily focused on U.S. middle market companies. The team involved included various specialists in fund transactions, formation, tax, and credit."

Simpson Thacher represented AEA Private Debt, the private credit platform of AEA Investors, in a significant transaction involving the establishment of a credit continuation vehicle. This vehicle, which successfully closed at approximately $550 million, was led by Carlyle AlpInvest, which is also contributing additional capital to support new loans originated by AEA Private Debt. The continuation vehicle was created to acquire a diversified, income-generating portfolio of first-lien senior secured loans from AEA Private Debt’s 2016 vintage direct lending fund, AEA Middle Market Debt Fund III. The portfolio primarily consists of loans to sponsor-backed U.S. middle market companies. The Simpson Thacher team involved in this transaction included Matt Gabbard and Trent Pacer (Fund Transactions); Michael Wolitzer, Catherine Kidd, Jeffrey Larocca, Dylan Igoe, Wade Landry, and Charles Ritger (Fund Formation); Marcy Geller, Jodi Schneider, and Ruoxi Zhang (Tax); and Justin Lungstrum, Roman Ibragimov, Anita Wu, Win Lalley, and Seya Lewis-Meeks (Credit).

"Simpson Thacher Facilitates $550 Million Credit Continuation Vehicle for AEA Private Debt"

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