The Firm represented BCP Investment Corporation (“BCIC”) in connection with its definitive agreement to acquire Investcorp Credit Management BDC, Inc. (“ICMB”) through a merger. ICMB stockholders will receive aggregate consideration equal to 90% of ICMB’s net asset value at closing, subject to certain adjustments, consisting of BCIC shares and, to the extent applicable, cash. The transaction is expected to close in the first quarter of 2027, subject to ICMB stockholder approval and other customary closing conditions.
BCIC and ICMB are publicly traded business development companies focused on middle-market investing. BCIC is managed by Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors L.P.
The Simpson Thacher team included Jonathan Corsico, John Dougherty, Haley Connor, Caroline Kincaid, and Victoria Schmit (M&A); Steven Grigoriou, Melissa Tuarez Herr, Jonathan Pacheco, Geneviève Roots and Alexandria Vasques (Registered Funds); Jonathan Goldstein, Brian Mendick, Tova Pfeffer and Elizabeth Trask (Tax); Larry Moss and Bianca Hsing (Executive Compensation and Employee Benefits); Christopher Brown and Ethan Tse (Banking & Credit); James Talbot and Tally Smitas (IP); and Erica Rozow and Christopher Torikoglu (ERISA).