Simpson Thacher advised KKR in connection with the recapitalization of Drawbridge Realty’s (“Drawbridge”) approximately $1.7 billion portfolio of Class A office properties by Global Atlantic Financial Group (“Global Atlantic”), on behalf of its affiliated insurance companies. As part of the transaction, KKR and Drawbridge have established a new venture that will enable Drawbridge’s investment platform to source a pipeline of attractive investment opportunities for Global Atlantic.~~KKR’s insurance subsidiary Global Atlantic is recapitalizing the entirety of Drawbridge’s portfolio, comprised of approximately 5.4 million square feet of Class A office assets in growth markets, currently concentrated across the West Coast and Sunbelt regions, which are more than 95% leased to high-quality corporate tenants.~~Drawbridge is a San Francisco-based real estate investment company that focuses on acquiring, developing and managing commercial property investments in high growth technology and innovation driven markets across the U.S. KKR and Drawbridge initially partnered in 2014 to recapitalize a portfolio alongside strategic institutional partners. KKR will maintain its ownership stake in the investment manager alongside Drawbridge’s management team following the transaction.~~The Simpson Thacher team included Jason Herman, Beate Krieger, Iram Huq, Lu Wang and Tianye Zhang and (Funds); Christopher May, Tyler Cox and Isaac Syed (M&A); Marcy Geller, Benjamin Rippeon and Jasmine Hay and Shoshana Schorr (Tax); and Scott Kobak and Justin Vilinsky (Real Estate).