Simpson Thacher & Bartlett LLP

We represented Sixth Street Specialty Lending, Inc. in its registered offering of $300 million aggregate principal amount of 5.650% Notes due 2031.   TSLX intends to use the net proceeds from the offering to pay down existing debt under its revolving credit facility and for general corporate purposes, including making new investments. TSLX is a publicly traded business development company regulated under the Investment Company Act of 1940 and is externally managed by Sixth Street Specialty Lending Advisers, LLC, an affiliate of Sixth Street.   Read more about the Simpson Thacher deal team here: https://lnkd.in/eQbW-76k #RegisteredFunds #Tax

We represented GMR Solutions Inc., a KKR portfolio company, in connection with its approximately $1 billion initial public offering and concurrent private placement. We also advised funds affiliated with KKR on margin loan financings entered into alongside the IPO to support the private placement by KKR and other pre-IPO investors.   GMR is the nation's largest provider of emergency medical services, delivering essential out-of-hospital care to communities representing more than 60% of the U.S. population.   To read more about the IPO and the Simpson Thacher deal team, click here: https://lnkd.in/eD-Tt-mq #CapitalMarkets #Healthcare #PublicCompanyAdvisory

We were pleased to co-host the “Bridging Japan & the Cayman Islands: Investment Fund Trends and Regulation Roundtable” alongside Walkers in Tokyo last week. The discussion brought together a distinguished group of fund managers, financial institutions and Japanese legal advisers to examine the evolving and important relationship between Japan and the Cayman Islands in the investment funds space. Led by Michaël Ceulen, a Partner in our Private Funds Practice, and Walkers partners James Gaden and Natalie Curtis, the roundtable explored key investment fund trends across Japan and broader Asia, as well as practical insights into Cayman Islands regulatory developments relevant to Japanese fund managers. We were also privileged to welcome the Hon. André M. Ebanks, Premier of the Cayman Islands, as a special guest for the discussion.

Simpson Thacher continues to be the go-to advisor to leaders of the AI economy, advising on 18 publicly announced AI-related transactions in the past month alone across numerous asset classes, which includes helping our clients:   • Form a joint venture with Google to create a TPU neocloud • Establish an AI infrastructure investment strategy • Finance a $16 billion data center campus for Oracle • Launch a new enterprise AI services firm with Anthropic • Invest in an energy management and generation company delivering firm, off-grid power solutions • Raise the largest blind pool REIT ever to acquire and own stabilized data center assets   These wide-ranging transactions reflect how AI and digital infrastructure are a generational opportunity to transform the global economy, and our clients are pursuing increasingly complex transactions to ensure access to compute and power in order to achieve the next AI breakthrough and to deploy existing solutions across industries. As a pioneer of countless market-defining transactions, Simpson Thacher is uniquely positioned to support our clients across the entire AI ecosystem. Our AI, Data Center and Digital Infrastructure group is an integrated team of experts across mergers & acquisitions, energy & infrastructure, real estate, capital markets, financing and investment funds providing seamless advice and unparallel deal execution.   To learn more about the latest developments about AI and digital infrastructure, please reach out to a member of our group:   • AI, Data Center Platform and Neocloud Transactions: Gabriel C. de Paula e Silva, Michael Chao, Anthony Vernace • AI and Infrastructure Fundraising: Parker Kelsey • AI Deployment and Services: Matt Kelly • Compute and Data Center Financing and Securitization: Whitney Salinas, Sam Saunders, JD, PhD, Niels Jensen • Data Center Development and Equity Transactions: Sam Rudik, Scott Kobak, Tam Ho • Data Center Leasing and Service Arrangements: Chelsea Pullen • Energy and Power Solutions: Eli Hunt, Javad Asghari, Brian Chisling, Shamus Crosby • Public REITs, 144A Notes and IPOs: Edgar Lewandowski, Jonathan Ozner

Simpson Thacher Partner Rick Hanson, Counsel Daniel Bhalla and Associates Dr. Julius Rogenhofer and Eileen Tjhia authored a chapter titled, “The “Securitisation-isation” of Private Credit: Back Leverage and the Funding Architecture of Private Credit Platforms - Securitisation Laws and Regulations 2026,” published by International Comparative Legal Guides (ICLG). The article examines the growth of back leverage reflects a deeper structural development that can be described as the “securitisation-isation” of private credit. It also examines the structural drivers behind this evolution and the implications for market participants, regulators and investors, arguing that private credit platforms are increasingly converging with the architecture of structured finance markets and that back leverage is the principal mechanism through which this convergence is occurring. To learn more, read the full article here: https://lnkd.in/eUqQcd4G

Simpson Thacher represented funds affiliated with Blackstone in connection with their joint venture with Google to create a new U.S.-based company that will offer efficient data center capacity, operations, networking and Google Cloud's Tensor Processing Units (TPUs) as a compute-as-a-service offering.   Under the terms of the partnership, Blackstone is making an initial commitment of $5 billion in equity capital from funds managed by Blackstone. The company expects to bring the first 500 MW of capacity online in 2027, with plans to scale significantly over time. Google will supply hardware, including TPUs, as well as software and services to the new company so it can rapidly accelerate to meet the growing demand for accelerated computing, leveraging the benefit of Google’s technical and domain expertise.   Read more about the deal and our team: https://lnkd.in/eUhKyr6R

Amy Candido, Head of our Intellectual Property Litigation Practice, authored a Law360 article examining new model jury instructions for the Defend Trade Secrets Act (DTSA) published on the tenth anniversary of the statute.   In the article, Amy explores the first comprehensive set of jury instructions for the DTSA developed by The Sedona Conference's Working Group 12 on Trade Secret Law. As a senior editor of the DTSA Model Jury Instructions, she highlights key trial management challenges, practical takeaways and how these instructions represent a significant step toward harmonizing DTSA trial practice.   Read the full article: https://lnkd.in/eriGSdrq

We're thrilled to welcome Mårten Olsson to Simpson Thacher as a Partner in our New York office! Marten represents sponsors, issuers, developers, investors, initial purchasers and lenders in the full spectrum of infrastructure transactions. With an emphasis on renewable power, conventional power, battery storage, digital and LNG facilities, he also has experience in acquisition financings, restructurings and liability management transactions. Marten's addition reflects the continued expansion of our energy and infrastructure capabilities, including our project finance platform. Read more here: https://lnkd.in/efNCGEng

We are excited to welcome our 2026 Summer Associate class! Through our multifaceted, interactive Summer Program, our Summer Associates will have the opportunity to experience both the Firm’s day-to-day work and our broader culture. We look forward to having a great summer together.

We advised Blackstone Digital Infrastructure Trust Inc. ("BXDC") on its initial public offering, which raised total gross proceeds of $1.75 billion and will raise total gross proceeds of over $2.0 billion if the underwriters exercise their option to purchase additional shares in full. In addition to being the largest blind pool REIT IPO on record, BXDC's offering is the third largest REIT IPO of all time. BXDC is a newly organized company focused on acquiring and owning mission-critical data center assets that power the modern digital economy. BXDC is externally managed by an affiliate of Blackstone Inc., the world's largest alternative asset manager and the largest financial investor in data center and digital infrastructure assets globally.   Read more about the IPO and the Simpson Thacher deal team that advised here: https://lnkd.in/eYiEP7hM   #CapitalMarkets #RealEstate #Tax #Credit