Simpson Thacher recently represented a group of underwriters in connection with the initial public offering of Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG) (the “Fund”), a closed-end registered investment company.  The lead underwriters in the transaction were Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Ameriprise Financial Services, Inc.

The Fund seeks to provide shareholders with total return, resulting from: a high level of current income, with an emphasis on providing tax-advantaged dividend income; growth in income; and capital appreciation by investing in domestic and foreign utility companies in the electric, gas, water, telecommunications, and midstream energy sectors.  The investment adviser of the Fund is Duff & Phelps Investment Management Co.

The Simpson Thacher team for this transaction included Sarah Cogan, Rafael Vasquez and Benjamin Wells (Capital Markets); Jonathan Cantor and Christian Miller (Tax); and Jennie Getsin (Blue Sky).  Summer associate Ray Kim also provided valuable assistance.