Experience

• • Konica Minolta, a Japanese multinational equipment and materials manufacturer operating in the healthcare and industrial industries, in the sale of its subsidiary Invicro to Calyx, a portfolio company of CapVest and leading technology-enabled provider.
  • Clayton, Dubilier & Rice in its acquisition, together with Stone Point Capital, of Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, at an enterprise value of $15.5 billion.
  • Hamilton Lane as lead investor in the formation of MiddleGround Capital’s $440 million MiddleGround Carbon CV, L.P. fund.
  • Prudential Financial in the formation of Prismic Life Reinsurance, a licensed Class E Bermuda-based life and annuity reinsurance company.
  • Mitsui in its agreement to tender its minority stake in Thorne to L Catterton in a take-private transaction with an aggregate value of approximately $680 million.
  • Five Arrows, the alternative assets arm of Rothschild & Co., in its acquisition of a majority stake in n2y, a provider of comprehensive, SaaS-based solutions for students with unique learning challenges.
  • EIG in the establishment of a fund to purchase a portion of the upstream assets from a public oil company.
  • HarbourVest Partners, TPG NewQuest and Committed Advisors as the lead investors in CSP Fund II, a $700 million continuation vehicle sponsored by a partnership between Capital Square Partners and Basil Technology Partners to acquire a portfolio of companies from existing funds.
  • Mitsui in the formation of the Blue Water Alliance, a joint venture in partnership with Olin Corporation.
  • TPG as lead investor in a single-asset continuation fund sponsored by North Castle Partners to acquire CR Fitness, a Crunch Fitness franchisee, from North Castle Partners VII.
  • Carlyle in its $2.1 billion capital raise and equity investment in Fortitude Re and the formation of a strategic advisory services agreement.
  • Constellation, backed by institutional investors Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan Board, in its acquisition of and $500 million capital contribution to Ohio National, as part of Ohio National’s demutualization process.
  • Sun Life in its $2.475 billion acquisition of DentaQuest.
  • Fortitude Re, a Carlyle portfolio company, in its acquisition of a $31 billion block of legacy variable annuities from Prudential Financial for a total transaction value of $2.2 billion.
  • Covanta in its sale to EQT in a transaction valued at more than $5 billion, in which EQT acquired all shares of Covanta common stock for $20.25 per share.
  • HarbourVest Partners as a co-lead investor in a continuation fund sponsored by Arclight Capital Partners for a single energy asset, an interest in the 192MW Sidney Murray Hydroelectric Project.
  • Investcorp in its strategic partnership with Centre Lane Partners, a private credit manager.
  • StepStone Group as lead investor in the $670 million closing of Ampersand Continuation Fund, together with related investment vehicles, formed to acquire the equity interests of three portfolio companies previously held by multiple mature Ampersand funds.
  • HarbourVest Partners as lead buyer in a GP-led tender for LP interests in Heritage Healthcare Innovation Fund and a related commitment to Heritage Healthcare Innovation Fund III.
  • Japan Post Holdings in its purchase of a strategic stake of approximately 7% of outstanding common shares of Aflac.
  • A Japanese utility as a member of an investor group in the group’s acquisition of majority ownership interests in Kleen Energy Systems, LLC, which operates a 620-megawatt natural gas-fired power plant located in Middletown, Connecticut. As part of the transaction, an affiliate of Ares EIF will manage the Kleen Energy power plant on behalf of the investor group.
  • Mitsui in its acquisition of an additional 10% limited partnership interest in Penske Truck Leasing from subsidiaries of GE Capital Global Holdings.
  • Mitsui in the sale of Transfreight North America, a wholly-owned subsidiary that provides logistics services primarily to automotive manufacturers, to U.S.-based Penske Logistics.
  • Mitsui in its acquisition of a 20% limited partnership interest in Penske Truck Leasing Co., L.P., a full service truck leasing, truck rental and logistics business that mainly operates in the U.S., from General Electric Capital Corporation.
  • Mitsui in establishing a significant joint venture with Celanese to manufacture methanol at Celanese’s plant in Clear Lake, Texas.
  • Mitsui in its joint venture with The Dow Chemical Company to produce biopolymers made from renewable, sugarcane-derived ethanol in Brazil.
  • Mitsui in its joint venture with Dow Chemical to construct, own and operate a membrane chlor-alkali facility in Freeport, Texas.
  • A large Japanese investor in a significant investment in the U.S. Marcellus shale gas formation.
  • Delta Air Lines and Comair, as special aircraft counsel, in their successful Chapter 11 proceedings involving the refinancing of more than 275 aircraft via new debt or lease arrangements, the return or other disposition of more than 140 aircraft, the elimination of four aircraft types from Delta’s fleet and the litigation of substantial aircraft financing claims.
  • A developer of coal gasification projects in the sale of a development project to a private equity fund.
  • Mitsui in its purchase of a 50% interest in Brazos Wind Ventures from Padoma Resources I and joint venture with ShellWind Energy.
  • Dentsu in its $500 million minority investment and strategic alliance with Publicis.
  • U.S. counsel to Mitsubishi Materials Corporation in a 50/50 joint venture with Plansee Holding AG for the powder metallurgical business.