Simpson Thacher represented Stonepeak in connection with the acquisition of Chicago Parking Meters, LLC (“CPM”), the operator of the City of Chicago’s on-street parking system, from a consortium comprising Morgan Stanley Infrastructure Partners, Allianz, and a wholly owned subsidiary of the Abu Dhabi Investment Authority.
CPM is responsible for the operation, management and maintenance of Chicago’s on‐street metered parking system, with more than 38,000 metered parking spaces, including nearly 10,000 in downtown Chicago. Since inception, CPM has invested heavily in upgrading and modernizing the City’s infrastructure, including by installing state-of-the-art electronic pay stations, establishing a 24‐hour customer service center and introducing the ParkChicago® app.
The Simpson Thacher team included Eli Hunt, Roy Jackson, Surya Banerjee and Patrick Przybylski (M&A); Brian Gluck, Patrick Wolff, Jule Walsh and Mark Geraci (Credit); Ryan Bekkerus and Margaret Selbe (Capital Markets); Jonathan Goldstein, Elizabeth Trask and Jacob Chefitz (Tax); Peter Guryan, Kelly Karapetyan and Nathaniel Bronstein (Antitrust); Tristan Brown, Harry Hudesman and Josh Goldman (Executive Compensation and Employee Benefits); Ron Ben-Yehuda and Tally Smitas (IP); Krista McManus (Real Estate); Steven DeLott (Insurance); Carleigh Rodriguez and Shefain Islam (Environment); and Leah Malone, Emily Holland and Chayla Sherrod (ESG).