Sidley Represents Thrivent in US$400 Million Collateralized Fund Obligation, Closed December 2023

Sidley represented Thrivent Financial for Lutherans (“Thrivent”), White Rose CFO 2023 Holdings, LLC (the issuer), and other affiliated entities in connection with Thrivent’s inaugural US$400 million collateralized fund obligation offering, which closed on December 27, 2023. The offered notes were secured by the issuer’s ownership interests in a subsidiary that held limited partnership interests in five different funds of funds with an approximate net asset value of US$800 million.

Thrivent is a Fortune 500 diversified financial services organization. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products, and programs online and through financial advisors and independent agents nationwide.

The Sidley team was led by Oren Gertner (Investment Funds), David K. Solow and Eno M. Usoro (Global Finance), and Payom Pirahesh (M&A and Private Equity), and included Michael T. Sweeney, Max R. Lupin, and Joey Lim (Global Finance); Meaghan M. O’Toole, Brian M. Bowman, and Hanna Jeon (Investment Funds); Jonathan J. Kelly, Andrew R. Holland, Scott J.F. Goldstein, and Sara N. Africano (Financial Institutions – Insurance); Christian E. Pilhofer (M&A and Private Equity); and Richard M. Silverman and Andy J. Lau (Tax); with support from T.J. Gordon and Robert Lewis (Global Finance); Carla G. Teodoro and John M. Ekblad (Investment Funds); Rachpal K. Thind, Tom Hunter, and Joel D. Feinberg (Financial Institutions – Banking and Financial Services); and Andrew W. Shoyer (Global Arbitration, Trade and Advocacy).