skip to main content

Our Private Equity Group provides trusted counsel derived from deep industry knowledge to established as well as up-and-coming private equity firms. We represent firms of every size across the spectrum of investment strategies, and we build long-standing relationships with our clients. As active participants in the private equity industry, we are able to advise our clients on the latest innovations, as well as current market practices and trends.

Paul, Weiss Advises Tricon in PIPE Investment by Blackstone-led Syndicate

Paul, Weiss advised Tricon Residential Inc., a North American rental housing company, in a $300 million (C$395 million) preferred equity investment in the company by a syndicate of investors led by Blackstone Real Estate Income Trust, Inc. (BREIT). The investment in Tricon, a rental housing company focused on serving the middle-market demographic in North America, will be made through the purchase of newly created units issued by a Tricon subsidiary as a private placement and exchangeable into a minority investment of Tricon. BREIT will acquire $240 million of the preferred equity. Tricon expects to use the proceeds of the investment to repay its corporate debt and enhance its balance sheet flexibility.

The Paul, Weiss team included corporate partners Christopher Cummings, Matthew Abbott and Matthew Goldstein and counsel Philip Heimowitz; tax partner Scott Sontag; and antitrust counsel Marta Kelly.

August 28, 2020

© 2020 Paul, Weiss, Rifkind, Wharton & Garrison LLP

Privacy Policy