Simpson Thacher & Bartlett has secured the lead advisory role on Kohlberg Kravis Roberts’ (KKR) plans to create and float an investment vehicle on the Amsterdam stock exchange.
US buyout group KKR is understood to have raised $5bn (£3bn) for investment vehicle KKR Private Equity Investors (PEI) to list on Euronext.
New York-based corporate partner David Sorkin led the Simpson Thacher team, which has enjoyed a longstanding relationship with KKR.
The sought-after instruction comes after leveraged finance star Tony Keal left Allen & Overy late last year to join Simpson Thacher, taking trophy client KKR with him.
It is understood that Linklaters was selected as international counsel instead of regular adviser Latham & Watkins to advise KKR on laws within the relevant European jurisdictions. Linklaters’ Amsterdam office was also involved. The firm was instructed after relationship partner Scott Bowie left Latham to join Linklaters’ New York office in February 2005.
KKR PEI will be based in Jersey, but its backers decided to list on Euronext because of Amsterdam’s advantageous regulatory and tax laws. US laws, particularly the Investment Company Act of 1940, have made it difficult for buyout groups to raise capital from the public market.
Cravath Swaine & Moore has been instructed by the underwriters.
The Lawyer contacted the firms involved, but all declined to comment.