Brad Jacobs Leads $1 Billion Equity Investment in CKX Lands

Paul, Weiss is advising Jacobs Private Equity II, LLC (JPE), led by Brad Jacobs, in its $1 billion equity investment, alongside minority co-investors, in land management company CKX Lands, Inc. The all-cash investment, which will take the form of convertible preferred stock and warrants, is expected to consist of $900 million from JPE and $100 million from co-investors led by HRTG Partners. Upon closing, JPE will hold a majority stake in CKX, and Jacobs will become chairman and CEO of CKX while continuing to serve as chairman and CEO of QXO, Inc. CKX will be renamed and operate as a standalone public company platform in an industry to be determined. 

The Paul, Weiss team is led by corporate partners David Huntington and Stan Richards and includes partners Nick Bogdanovich, Brad Finkelstein, Austin Lee and David Sobel; executive compensation partner Jean McLoughlin and counsel Cynthia Akard; tax partner Scott Sontag; and environmental counsel William O'Brien.