Jordan Murray, P.C.

Kirkland & Ellis is advising technology investor Silver Lake on the $13 billion acquisition of global sports and entertainment company Endeavor Group Holdings, Inc. (NYSE: EDR). The transaction was announced April 2, 2024. According to the definitive agreement, Silver Lake will pay Endeavor shareholders $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share at market close on October 25, 2023, the last full trading day prior to Endeavor’s announcement of its review of strategic alternatives. The price puts an equity value of $13 billion on Endeavor with a combined enterprise value of over $25 billion when consolidating TKO’s value into Endeavor. Silver Lake previously supported Endeavor’s acquisition of UFC in 2016 and the merger of UFC and WWE, creating TKO (NYSE: TKO) in 2023. TKO is not party to the transaction and will remain publicly traded.  The transaction is expected to close by the end of the first quarter of 2025, pending customary closing conditions and regulatory approval. Read the transaction's press release The Kirkland team is being led by investment funds partners Mark Boyagi, Jordan Murray, Eric Fischer, Kevin Lam and Leslie Hung and tax partners Lee Morlock and Joseph Tootle.

Apr 3

1 min

Kirkland & Ellis advised Leonard Green & Partners, L.P. (LGP) on the final closing of Sage Equity Investors and its related entities (Sage I), its inaugural investment program dedicated to investing primarily in single-asset continuation funds sponsored by third-party private equity managers. Sage I closed with over $3.6 billion of total commitments, significantly exceeding its initial target of $1.5 billion. Read the transaction release The Kirkland team included investment funds lawyers John Senior, Ramen Costa, Jordan Murray, Nathan Howe and Ashley Lee; tax lawyers Lee Morlock, Michael Greenberg and Matthew Wahlquist; investment funds regulatory lawyers Nabil Sabki, John Reinert and Hane Kim; and ERISA lawyers Sabrina Glaser and Joseph Lifsics.

Jan 26

1 min

Kirkland & Ellis advised private equity funds sponsored by Tract Capital, an alternative asset manager focused on creating businesses that support digital infrastructure growth, data centers and generative AI, on the lease and purchase and sale of real property for a 230-megawatt utility capacity (200-megawatt critical IT capacity), turnkey data center and electrical substation to be built in Storey County, Nevada. The project has been 100% leased to a AA- investment grade rated tenant pursuant to a 197-month “triple net” lease. Read Tract Capital’s press release The Kirkland team advising on the lease included real estate lawyers Kim McGrath and David Arbus; investment funds lawyers Jordan Murray and Joseph Baldwin; and tax lawyer Mark Schwed. The Kirkland team advising on the purchase and sale included corporate lawyers Melissa Kalka and Emily Lichtenheld; real estate lawyer Andy Small; investment funds lawyers Jordan Murray and Joseph Baldwin; and tax lawyer Mark Schwed.

Mar 2

1 min

Kirkland & Ellis advised TowerBrook Capital Partners on its investment in Anthropic, a market leader in enterprise AI and coding. TowerBrook was a significant investor in Anthropic’s $30 billion Series G funding round, which valued Anthropic at $380 billion post-money. Read the transaction press release The Kirkland team included investment funds lawyers August Sangese, Jordan Murray, Yong-Nam Jun and Elvan Yolcu; corporate lawyers Leo Greenberg, Alan Heisman, Jaime Travers-Fein and Sophie Abrams; and tax lawyers Jared Rusman, Stanley Ramsay, Michael Alcan and Ali Godoy.

Feb 17

1 min

Kirkland & Ellis advised Crown Laboratories, Inc., a privately held, global innovative leader in the skincare industry, on a definitive merger agreement to purchase Revance Therapeutics, Inc. (NASDAQ: RVNC), a biotechnology company aimed at setting the new standard in healthcare with innovative aesthetic and therapeutic offerings. The acquisition was announced August 12, 2024 and is expected to close by the end of the year. Under the terms of the agreement, which has been unanimously approved by Revance’s Board of Directors, Crown will commence a tender offer to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash for an overall value of $924 million. The purchase price represents a premium of 89% over Revance’s closing market price on August 7, 2024, and a 111% premium to Revance’s 60-day volume-weighted average price. Read the transaction press release The Kirkland team was led by corporate partners Marshall Shaffer and Ed Lee, along with Josh Kogan, Andrew Norwich and Steven Choi and associates Monica Ruiz and Matthew Burner; investment funds partners Jordan Murray, Juliet Anderson and Justin Samson and associate Chris Stoj; debt finance partners Jason Kanner, Chad Davis and Angela Hagerman and associates Kaitlin Schock and Daly Brower; executive compensation partners Scott Price and Anthony Ji and associate Grace Zagorskis; capital markets partners Julia Danforth and Pippa Bond and associate Van Whiting and Sarah Yang; and antitrust & competition associate Mariana del Carmen Fernandez.

Aug 12

1 min