Milbank LLP advised global alternative asset management firm TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, in connection with the establishment of a joint venture with Hilco Global (the “JV”), formed to identify, acquire and finance consumer brands and intellectual property in partnership with Bluestar Alliance, LLC, as announced in a press release issued by TPG Angelo Gordon.
Milbank advised the JV in connection with its approximately $190 million investment in a securitization transaction established by BR Brand Management, LLC, a subsidiary of B. Riley Financial, Inc. (“B. Riley”), that included the transfer and contribution of assets and intellectual property for several brands, including Hurley, Justice and Scotch & Soda, among others, in connection with the financing.
In addition, the JV separately acquired from bebe stores, inc. the assets and intellectual property of the bebe and Brookstone brands.
The Milbank team advising on the transaction was led by New York-based Structured Credit partner Sean M. Solis, Alternative Investments partners Al Pisa and Maya Grant, Financial Restructuring partners Samuel Khalil, Andrew Leblanc and Matthew Brod, Global Corporate partner Jason Anderson and Tax partner Andrew Walker, along with special counsel Martin Brennan and Philip Powers, associates Nicholas Gonski, Michael Rivkin and Andrew Park and law clerk Matteo Mosca.
