Eric Zhi

Asset Management M&A, Secondaries, GP Stake and Related Transactions

• Linden Capital Partners in a complex GP-led secondary transaction involving the recapitalization of its funds and portfolio company Smile Doctors.
• Brightstar Capital Partners on the acquisition of a non-control, minority equity stake in its business by Claure Group.
• Silver Oak Services Partners in a complex GP-led continuation vehicle transaction.
• Elda River Capital Partners in connection with the spinout of Magnetar Capital’s energy and infrastructure business with $1.5 billion of assets under management across 13 funds, co-investment vehicles and managed accounts.

Mergers and Acquisitions

• Linden Capital Partners and Smile Doctors on investment by Thomas H. Lee Partners.
• TA Associates, Vista Equity and Aptean on strategic growth investment by Charlesbank.
• Madison Dearborn Partners and Thoma Bravo on the sale of Syntellis Performance Solutions to Roper Technologies, Inc. (NASDAQ: ROP) at an enterprise value of $1.4 billion.
• Bain Capital Private Equity and Hellman & Friedman in their $17 billion acquisition of athenahealth, Inc.
• CCC Information Services in its de-SPAC business combination with Dragoneer Growth Opportunities (NYSE: DGNR) for an enterprise value of $7 billion.
• BigBear.ai’s $1.57 billion de-SPAC merger with GigCapital4 (NASDAQ: GIG) for $1.57 billion.
• Star Peak Corp II (NYSE: STPC) in its de-SPAC business combination with Benson Hill Inc. for $1.35 billion.
• LyondellBasell (NYSE: LYB) in its $2 billion joint venture with Sasol (JSE: SOL, NYSE: SSL), including acquisition of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure.
• McDermott International in its disposition of its subsidiary for more than $2.7 billion.
• GTCR in the sale of Optimal Blue to Black Knight (NYSE: BKI) for an enterprise value of $1.8 billion.
• Syntellis Performance Solutions in its acquisition of Stratasan, a provider of market intelligence and data analytics for U.S. hospitals and healthcare systems.

Commercial Real Estate

• Blackstone in its portfolio acquisition and financing of more than 60 industrial assets.
• Core Spaces in a platform development joint venture with Harrison Street Real Estate Capital to acquire and develop in excess of $1.5 billion of single-family rental projects.
• TPG in CMBS mortgage and mezzanine financing of $350 million secured by its portfolio of class A office assets.
• Macy’s in obtaining more than $4 billion of additional liquidity in response to the impact of the COVID-19 global pandemic on the company and the retail industry.
• Consortium of joint ventures in the roll-up and recapitalization of a real estate portfolio consisting of approx. 100 multifamily properties with a combined asset value of approx. $1.9 billion.

Restructuring

• Washington Prime Group (NYSE: WPG) in its emergence from Chapter 11 bankruptcy which deleveraged WPG’s balance sheet by over $900 million, restructured its secured debt, and provided holders of existing preferred and common equity with a material recovery.
• J.C. Penney in its sale of 166 owned and leased stores and distribution centers pursuant to a Chapter 11 plan of reorganization plan.
• Neiman Marcus Group in its refinancing and recapitalization of approximately $4.5 billion of funded indebtedness encumbering the fee interest and leasehold interests in more than 40 properties.
• GenOn Energy (NYSE: GEN) in its restructuring involving more than $3.5 billion of funded and off-balance sheet debt encumbering the fee interest and leasehold interest in 14 power plants.

PILI Fellow, Lawyers’ Committee for Better Housing

Summer Associate, Pircher, Nichols & Meeks

Student Clerk, Institute for Justice Clinic on Entrepreneurship