Sidley represented Beach Point Capital Management LP in its multi-jurisdictional First Lien Senior Secured Delayed Draw Term Loan Facility to Cipriani USA, Inc. (Cipriani) and a diverse portfolio of global affiliates to support the growth and expansion of Cipriani and its global luxury hospitality platform. The US$190 million financing will include support for one of Cipriani’s newest projects, Cipriani Resort, Residences, and Casino Punta Del Este, a landmark project in Uruguay exceeding US$500 million.
Beach Point is a multi-strategy investment manager with approximately US$19.3 billion in AUM, making private equity, credit, real estate, and structured product investments. Beach Point’s meaningful experience in the hospitality and gaming sector, together with its expertise and creativity in structuring transactions, made it an ideal capital provider to Cipriani.
The Sidley deal team was led by partners Josh Thompson (Global Finance), Brien Wassner (M&A and Private Equity), and Brittany Harrison (M&A and Private Equity), and included Alexander Hirshfeld, Shayona Schiely, Morgan Oxner, James Blanchard, Chase Rowland, and Megan Bradley (Global Finance); and Christian Brause and Eric Grosshandler (Tax).
