The Firm represented The Carlyle Group (NASDAQ: CG) in the purchase of a 55% stake in Vermillion Asset Management (“Vermillion”), effective October 1, 2012. Vermillion is a New York-based commodities investment manager with approximately $2.2 billion of assets under management as of September 30, 2012. Vermillion has become affiliated with Carlyle’s Global Market Strategies business and will become Carlyle’s commodities trading platform. The purchase price was not disclosed.
Carlyle’s Global Market Strategies business comprises an array of long/short credit hedge funds, emerging markets equities and macroeconomic strategy hedge funds, structured credit, middle-market credit, energy mezzanine and distressed products – 53 funds with $29 billion in assets managed by 100 investment professionals in New York, Washington, D.C., Los Angeles, Houston, Hong Kong and London as of June 30, 2012.
The Simpson Thacher team included: Gary Horowitz, Edward Chung, S.J. Gagliardi and Kevin Chang (M&A); Olga Gutman, Dorothy Mehta, Michael Sabin and Joshua Faber (Funds); John Creed, Sean Austin and Seojung Park (Tax); Alvin Brown and Jeannine McSweeney (Executive Compensation and Employee Benefits); Josh Bonnie (Capital Markets and Securities); and Ken Ehrhard (HSR).
