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July 31, 2013
WASHINGTON, DC, July 31, 2013 — Covington & Burling advised Octavian Advisors, LP, Octavian Global Partners, LLC, and their affiliates ("Octavian") on a transaction with TPG Special Situations Partners ("TSSP").
Under the terms of the transaction, affiliates of TSSP acquired a significant stake in, and took over the management of, several Octavian funds. The transaction closed on July 22 following the receipt of requisite consent of Octavian investors and the satisfaction of other customary closing conditions.
Octavian Advisors, LP is a global investment firm which focuses on special situations and distressed investments in international markets. TSSP is the credit and special situations platform of TPG, a leading global private investment firm.
The Covington team was led by corporate partner Stephen Infante and included associates Silas Lum, Tarek Khanachet and Leeor Baskin. Also advising on the transaction were Lisa Koff (fund formation), Carey Roberts (corporate), Rob Heller (tax), Keir Gumbs (securities law) and Kerry Burke (Investment Advisors Act).