Simpson Thacher is representing George Roberts, co-founder and co-executive chairman of KKR, in connection with a new ownership partnership in Valencia CF between Kiat Lim, President of Valencia CF and Pitchwise Holdings, a consortium of private family offices and long-term institutional investors led by experienced sports executives Ann Rodriguez and Corey Woolfolk. Pitchwise’s investors include George Roberts, Penner Sports Group and Henry Kravis, co-founder and co-executive chairman of KKR.
Pitchwise will acquire a significant minority stake in Valencia CF via a purchase of shares from Meriton Holdings. The transaction values Valencia CF at an enterprise value of €1.25 billion. Pitchwise will also provide €100 million in new capital, which will be immediately available for direct investment into the club. Meriton Holdings will remain the club's majority shareholder and Pitchwise will ultimately hold a 42% stake in the club. The investment by Pitchwise is subject to customary closing conditions, including regulatory approvals.
The Simpson Thacher team included Naveed Anwar, Michael Kuh, Steven Palyca and Kashmirra Thevar (M&A); Robert Guo, Elliott Im and Wenxiong Zhang (Funds); and Marcy Geller and Jonathan Westreich (Tax).