LONDON, December 16, 2024 – Proskauer, a leading international law firm, announced today that it advised Sixth Street on a new strategic financing facility with Essential Pharma (“Essential”).
The facility consists of €300 million in structured equity and growth debt and is part of Essential’s completion of a €900 million recapitalisation. The transaction will enable Essential to build on its diversified portfolio and late-stage pipeline across established and rare disease medicines.
Sixth Street is a leading global investment firm with over $80 billion in assets under management and committed capital. It has deep experience in financing the development and commercialization of innovative therapeutics and investing in healthcare technology companies across all stages of growth.
Essential is an international specialty pharma group focused on ensuring patients have access to low volume, clinically differentiated, niche pharmaceutical products across key therapeutic areas. It has been a valued partner to healthcare providers for over 20 years by giving underserved patient populations access to medicines that otherwise might not be available and addressing clinical unmet needs.
The Proskauer team was led by partner Faisal Ramzan and included associates Phil Anscombe and Aaron Wong (Private Credit); and partner Adam Creed and associate Jack Gladman (M&A).
About Proskauer
The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. With 800+ lawyers in key financial centers around the world, we are known for our pragmatic and commercial approach. Proskauer is the place to turn when a matter is complex, innovative and game-changing. We work seamlessly across practices, industries and jurisdictions with asset managers, private equity and venture capital firms, Fortune 500 and FTSE companies, major sports leagues, entertainment industry legends and other industry-redefining companies.
The Firm’s Private Credit Group is made up of cross-disciplinary finance and restructuring experts exclusively dedicated to private credit investors. It includes over 110 finance and restructuring lawyers focused on representing credit funds, business development companies and other direct lending funds in the origination and restructuring of “clubbed” and syndicated credits, preferred equity, special situations and alternative investments. Over the past five years, Proskauer has been involved in over 1,200 deals for more than 100 private credit clients across the U.S. and Europe with an aggregate transaction value exceeding $350 billion.