Kirkland & Ellis advised Stockbridge Capital Group, a real estate asset manager with approximately $33.8 billion in assets under management, in connection with the completion of a strategic reorganization that includes the firm's invitation to the National Pension Service of Korea (NPS) to become a minority interest holder. NPS, the world's third-largest pension fund with over $750 billion in assets, is acquiring a partial interest in Stockbridge through a separate account investment program administered by Blue Owl.
Concurrent with the NPS investment, Stockbridge reorganized its two business units, Core and Value Advisors (CVA) and its Platform Business, under common ownership and alignment structures. As part of the reorganization, Stockbridge will establish new firm-wide equity and incentive programs for a broad group of senior leadership.
The NPS investment team was led by corporate partner Michael Reeves and associate Tarah Perkins, and included corporate partner Rami Totari and associates Tonna Onyendu and Mary Ramzy; and tax partners Lee Morlock and Mike Greenberg and associates Dion Toledo and Allison Bray.
The CVA acquisition team was led by corporate partners Michael Reeves and Rami Totari and associate Tonna Onyendu, and included corporate associates Tarah Perkins and Mary Ramzy; tax partners Lee Morlock and Mike Greenberg and associates Dion Toledo and Allison Bray; and executive compensation partner Jack Stratton and associates Lany Villalobos and David van den Berg.