Simpson Thacher represented AEA Private Debt, AEA Investors’ private credit platform, in the successful closing of an approximately $550 million credit continuation vehicle. The transaction was led by Carlyle AlpInvest, who is also providing additional capital to support new loans originated by AEA Private Debt.
The continuation vehicle was established 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 – primarily consisting of loans to sponsor-backed U.S. middle market companies.
The Simpson Thacher team 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).