Ropes & Gray advised TSSP in its acquisition of credit assets, including a part of Credit Suisse's distressed credit portfolio for approximately $1.27 billion, utilizing no portfolio leverage. The Credit Suisse distressed portfolio purchased by TSSP is comprised of over 270 instruments across asset types and geographies relating to approximately 170 companies.
TSSP, the global credit and special situations platform of TPG, has approximately $19 billion in assets under management. TSSP has a long-term oriented, highly flexible capital base that allows it to invest across industries, geographies, capital structures and asset classes, in distressed assets but also healthy and growth companies.
The acquisition was announced May 4. Additional terms of the transaction were not disclosed.
The Ropes & Gray team included special situations partner Robb Tretter (New York), finance partner Alyson Allen (Boston) and tax partner Daniel Kolb (New York).
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.