Shareef M. Salfity

The Firm represented the underwriters in connection with a public offering by UnitedHealth Group Incorporated (“UnitedHealth Group”) of $12 billion aggregate principal amount of its notes, consisting of $500 million aggregate principal amount of Floating Rate Notes due 2026, $650 million aggregate principal amount of 4.75% Notes due 2026, $1.25 billion aggregate principal amount of 4.8% Notes due 2030, $1.5 billion aggregate principal amount of 4.95% Notes due 2032, $2 billion aggregate principal amount of 5.150% Notes due 2034, $1.5 billion aggregate principal amount of 5.5% Notes due 2044, $2.75 billion aggregate principal amount of 5.625% Notes due 2054 and $1.85 billion aggregate principal amount of 5.75% Notes due 2064. The offering closed on July 25, 2024.~~UnitedHealth Group is a diversified health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone.~~The Simpson Thacher team included Roxane Reardon, Patrick Baron and Nate Yang (Capital Markets); Jonathan Cantor and Shareef Salfity (Tax); Vanessa Burrows and Jake Madden (Healthcare); Bobbie Burrows, Linton Mann and Christian Bond (IP and Privacy); Karen Kazmerzak (Antitrust); and Jennie Getsin (Blue Sky).

Jul 26

1 min

Simpson Thacher represented Indus Valley Partners (IVP) in connection with a strategic minority growth investment from PPC Enterprises (PPC), a middle-market private equity firm. Through this transaction, PPC will serve as IVP’s first strategic partner, supporting IVP’s organic growth and acquisition strategy and expanding IVP’s capabilities and addressable market.~~IVP is a leading global provider of software and technology solutions to investment managers. Headquartered in New York and Noida, India, IVP has over $4.2 trillion of AUM managed using its technology and over $1.6 trillion of AUM reported through its regulatory reporting platform.~~The Simpson Thacher team included Timothy Gaffney, Sven Mickisch, Makala Kaupalolo, Lawrence Page, Michael Chen and Sebastian Edin (M&A); Larry Moss, Andrew Kofsky, Radhika Tahiliani and Mtume Sangiewa (Executive Compensation and Employee Benefits); Andrew Purcell, Andrew Mandelbaum, Shareef Salfity and Jiha Min (Tax); Christine Marshall (Credit); and Lori Lesser and Bobbie Burrows (IP). Summer Associate Jake Parsons also provided valuable assistance.

Jun 20

1 min

Simpson Thacher represented funds managed by Blackstone Tactical Opportunities in connection with a $425M preferred equity investment in Buyers Edge Platform from a consortium led by General Atlantic Credit’s Atlantic Park fund. Buyers Edge Platform intends to leverage the new funds to support the execution of its continued growth initiatives, including platform innovation, strategic M&A, and European expansion.~~Buyers Edge Platform is a leading software and analytics company that partners with stakeholders across the industry value chain to provide data visibility and purchasing transparency. Underpinned by over $60 billion of aggregated spend volume, Buyers Edge Platform empowers stakeholders to reduce their costs, streamline supply chains, and utilize technology to run their businesses more efficiently and profitably.~~The Simpson Thacher team includes Michael Chao, Anthony Vernace and Julia Tory (M&A); and Jonathan Goldstein, Sophie Staples, Lina Pan and Shareef Salfity (Tax).

Aug 4

1 min

Portland General Electric Company and Manulife Investment Management have paid $1.9 billion to obtain electrical provider PacifiCorp's Washington state assets in a cash deal guided by Latham & Watkins LLP, Simpson Thacher & Bartlett LLP, and Gibson Dunn & Crutcher LLP. According to the announcement, the assets include PacifiCorp's "generation, transmission and electric utility operations." After the related regulatory filings are submitted, the state and federal regulators are supposed to wrap up their acquisition reviews in 12 months, the announcement added. Part of these assets constitutes power lines that stretch for 4,500 miles and utility operations that are located 2,700 square miles across the state, according to the announcement. "We are excited for the opportunity to continue to grow, expanding into Washington and building upon PGE's foundation of operational excellence and customer service," said PGE's president and CEO Maria Pope in a Tuesday statement. "We look forward to our partnership with Manulife Investment Management, who brings a track record of investment success across the utility sector and Pacific Northwest agriculture and timberland industries," Pope added. On Tuesday, Manulife Investment Management's global head of infrastructure Recep Kendircioglu said Manulife's PGE partnership "represents an opportunity that fits well within our infrastructure strategy and leverages our experience in utility investments." The acquisition deal allows PGE to obtain the 94-megawatt Goodnoe Hills wind power facility, the 477-megawatt Chehalis natural gas facility, and the Marengo I and Marengo II facilities, which are wind power facilities that have 234 megawatts of power combined, the announcement said. PGE will use another company to oversee the Washington assets, according to the announcement. Also, Manulife Infrastructure Fund III LP and the fund's affiliates will own 49% of the utility assets, the announcement stated. On Tuesday, PacifiCorp's CEO Darin Carroll said the asset sale "is a targeted step toward ensuring the continued delivery of safe, reliable power to our nearly 2 million customers in the West and Intermountain West." "This will improve the company's financial stability while simplifying our operations to support our long-term commitment to customers in each of our remaining states," Carroll also said. PGE, Manulife and PacifiCorp did not immediately respond to requests for additional comment on Tuesday. PGE is represented by Michael Sullivan, Ryan Maierson, Erik Thompson, Elena Burns, Cameron Koob, Zach Kobayashi, Riann Winget, Brock Meyer, Skyler Ligon, Genie Yae, Caroline Phillips, Sharon Huberfeld, Jeremie Ruiz, Jeffrey Tochner, Sebastian Moss, Pardis Zomorodi, Dominick Constantino, Jason Cruise, Andrew Paik, Natasha Gianvecchio, Jecoliah Williams, Michelle L.C. Carpenter, Peter Dalmasy, Oswald Cousins, Marc Campopiano, Brian McCall, James Mann, David Rao, Daniel Eyal, Chika Onyejiukwa, Harrison White, Robert Brown, Stuart Cobb, Sony Ben-Moshe, Bryan Monson, Jackson Kushner, Steven Levine, Shelby Harrison and Daniel Eyal of Latham & Watkins LLP. Manulife is represented by Brian Chisling, Katy Lukaszewski, Paul Bolaji, Oleg Stratiev, Natasha Kandi, Selim Loetscher, Brian Steinhardt, Brandon Barton, David Kim, Owen Harrison, Jonathan Goldstein, Shareef M. Salfity, Preston Irace, Alysha Sekhon, Margerite Blasé, Tally Smitas, Tristan Brown, Ryan Stott, Skyler Kanfer, Krista McManus, Dennis Loiacono and Steve DeLott of Simpson Thacher & Bartlett LLP. PacifiCorp is represented by Andrew Kaplan, Christopher Lang, Nicolette Fata, Aliya Zuberi, Becca Pecora, Patrick Perrier, Eric Sloan, Yara Mansour, Jason Zhang, Dean Masuda, Doug Horowitz, Meghan Hungate, Jocelyn Shih and Michael Collins of Gibson Dunn & Crutcher LLP.

Feb 17

3 min

Portland General Electric Company and Manulife Investment Management have paid $1.9 billion to obtain electrical provider PacifiCorp's Washington state assets in a cash deal guided by Latham & Watkins LLP, Baker Botts LLP, Simpson Thacher & Bartlett LLP, and Gibson Dunn & Crutcher LLP. According to the announcement, the assets include PacifiCorp's "generation, transmission and electric utility operations." After the related regulatory filings are submitted, the state and federal regulators are supposed to wrap up their acquisition reviews in 12 months, the announcement added. Part of these assets constitutes power lines that stretch for 4,500 miles and utility operations that are located 2,700 square miles across the state, according to the announcement. PGE's financial advisers for the deal were J.P. Morgan, Barclays, Citi, and Lazard, the announcement said. Manulife's financial adviser was Goldman Sachs & Co. LLC. "We are excited for the opportunity to continue to grow, expanding into Washington and building upon PGE's foundation of operational excellence and customer service," said PGE's president and CEO Maria Pope in a Tuesday statement. "We look forward to our partnership with Manulife Investment Management, who brings a track record of investment success across the utility sector and Pacific Northwest agriculture and timberland industries," Pope added. On Tuesday, Manulife Investment Management's global head of infrastructure Recep Kendircioglu said Manulife's PGE partnership "represents an opportunity that fits well within our infrastructure strategy and leverages our experience in utility investments." The acquisition deal allows PGE to obtain the 94-megawatt Goodnoe Hills wind power facility, the 477-megawatt Chehalis natural gas facility, and the Marengo I and Marengo II facilities, which are wind power facilities that have 234 megawatts of power combined, the announcement said. PGE will use another company to oversee the Washington assets, according to the announcement. Also, Manulife Infrastructure Fund III LP and the fund's affiliates will own 49% of the utility assets, the announcement stated. On Tuesday, PacifiCorp's CEO Darin Carroll said the asset sale "is a targeted step toward ensuring the continued delivery of safe, reliable power to our nearly 2 million customers in the West and Intermountain West." "This will improve the company's financial stability while simplifying our operations to support our long-term commitment to customers in each of our remaining states," Carroll also said. PGE, Manulife and PacifiCorp did not immediately respond to requests for additional comment on Tuesday. PGE is represented by Michael Sullivan, Ryan Maierson, Erik Thompson, Elena Burns, Cameron Koob, Zach Kobayashi, Riann Winget, Brock Meyer, Skyler Ligon, Genie Yae, Caroline Phillips, Sharon Huberfeld, Jeremie Ruiz, Jeffrey Tochner, Sebastian Moss, Pardis Zomorodi, Dominick Constantino, Jason Cruise, Andrew Paik, Natasha Gianvecchio, Jecoliah Williams, Michelle L.C. Carpenter, Peter Dalmasy, Oswald Cousins, Marc Campopiano, Brian McCall, James Mann, David Rao, Daniel Eyal, Chika Onyejiukwa, Harrison White, Robert Brown, Stuart Cobb, Sony Ben-Moshe, Bryan Monson, Jackson Kushner, Steven Levine, Shelby Harrison and Daniel Eyal of Latham & Watkins LLP. Manulife is represented by Brian Chisling, Katy Lukaszewski, Paul Bolaji, Oleg Stratiev, Natasha Kandi, Selim Loetscher, Brian Steinhardt, Brandon Barton, David Kim, Owen Harrison, Jonathan Goldstein, Shareef M. Salfity, Preston Irace, Alysha Sekhon, Margerite Blasé, Tally Smitas, Tristan Brown, Ryan Stott, Skyler Kanfer, Krista McManus, Dennis Loiacono and Steve DeLott of Simpson Thacher & Bartlett LLP. PacifiCorp is represented by Andrew Kaplan, Christopher Lang, Nicolette Fata, Aliya Zuberi, Becca Pecora, Patrick Perrier, Eric Sloan, Yara Mansour, Jason Zhang, Dean Masuda, Doug Horowitz, Meghan Hungate, Jocelyn Shih and Michael Collins of Gibson Dunn & Crutcher LLP. Lazard is represented by Clint Rancher, Josh Davidson and Lakshmi Ramanathan of Baker Botts LLP.

Feb 17

3 min