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Ropes & Gray Advises AlpInvest on Thompson Street Capital Partners’ First Continuation Fund

Practices: Asset Management, Private Equity, Private Funds, Investor Representation, Secondary Transactions, Tax, Litigation, Government Enforcement / White Collar Criminal Defense

Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, announced on Dec. 22 the closing of its first Continuation Fund capitalized by AlpInvest and a leading group of limited partners. Ropes & Gray acted as legal counsel for AlpInvest.

The Continuation Fund was established to acquire Revenue Management Solutions (“RMS”) and BCM One Holdings, Inc (“BCM One”). The transaction closed with a combined enterprise value of approximately $1.2 billion and the Continuation Fund includes substantial additional capital to drive organic growth initiatives and strategic acquisitions at both companies.

The transaction, led by AlpInvest, a subsidiary of Carlyle Global Investment Solutions, is supported by a diverse group of high-quality investors, including both TSCP Fund IV and Fund V limited and general partners. The transaction includes significant equity contributions from the founders and management of both companies.

The Ropes & Gray team advising AlpInvest was led by asset management partner and institutional investors team co-leader Isabel Dische and included tax partner Dan Kolb, litigation & enforcement partner Ama Adams, private capital transactions counsel Michael Gilbert, litigation & enforcement counsel Deidre Johnson and Steven Kaye, asset management associates Christian Vareika, Michael Santopietro, Tim Parrington, Ashley Hersutamto, Colton Canton, Xiaoyu Yang, Sang Hwa Lee, and Erik Paik, litigation & enforcement associates Emerson Siegle, Sara Ramsey and James Parkinson, and tax associate Aaron Lichter

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