Neuberger Berman Partners with Tailwind Capital on a Single-Asset Continuation Vehicle
Simpson Thacher advised Neuberger Berman as Lead Investor in connection with its investment in a single-asset continuation vehicle (“CV”) sponsored by Tailwind Capital (“Tailwind”), an established middle market buyout manager. The CV purchased its underlying asset, Axis Portable Air (“Axis”), from existing Tailwind funds and delivered substantial liquidity to early Tailwind investors. Axis is a leading pure-play portable climate control solutions provider in the United States.
The Simpson Thacher team included Lauren King, Lenny Licht, Brian Kudowitz and Ammar Al Mataani (Fund Transactions); and Benjamin Rippeon, Kathryn Stone and George Rhein (Tax).