Simpson Thacher represented ClearBridge Energy Midstream Opportunity Fund Inc. (the Fund) in private placement of fixed-rate mandatory redeemable preferred stock, raising additional capital for the Fund. Net proceeds from the offering will be used to refinance existing leverage and make new portfolio investments.
Franklin Templeton Fund Adviser, LLC (FTFA) is the investment manager to the Fund and ClearBridge Investments, LLC (ClearBridge) is the Fund’s subadviser. FTFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Templeton, Inc., a global investment management organization.
The Simpson Thacher team for the transaction included David Blass, Ryan Brizek, Debbie Sutter, Andy Madore, Sophie Kim and Caitlynn Corie (Registered Funds); Ari Zak, Jon Cantor and Michael Slomovics (Tax).