Alaska Permanent Fund Enters into Definitive Agreement to Acquire a Co-Controlling Stake in Simpson Housing Limited Partnership.JUNEAU, Alaska “Juneau” redirects here. For other uses, see Juneau (disambiguation). The City and Borough of Juneau (pronounced [ˈdʒu. & DENVER -- Simpson Housing Limited Partnership, L.L.L.P. ("Simpson" or the "Company") and Alaska Permanent Fund The Alaska Permanent Fund is a constitutionally established Fund, managed by a semi-independent corporation, established by Alaska in 1976. Shortly after the oil from Alaska’s North Slope began flowing to market through the Trans-Alaska Pipeline System, the Permanent Fund was Corporation ("APFC APFC Asia Pacific Foundation of Canada APFC Active Power Factor Correction (computer power supplies) APFC American Printed Fabrics Council APFC Automatic Power Factor Controller APFC Adaptive Pfc ") announced today that APFC entered into a definitive agreement to acquire a co-controlling stake in Simpson, one of the largest private multifamily development and operating companies in the country. The transaction values Simpson in excess of $2 billion. Under the terms of the agreement, APFC will acquire a co-controlling stake in the Company from the State of Michigan Retirement System ("SMRS SMRS Specialized Mobile Radio Service (FCC) SMRS Southern Midget Racing Series (Sallisaw, OK) SMRS Special Mission Radio System SMRS Sonoma Mountain Repeater Society SMRS Social Model Recovery Systems, Inc "). Completion of the transaction, which is expected to occur by the end of the first quarter of 2006, is subject to certain customary closing conditions. Deutsche Bank Securities Inc. acted as sole financial advisor to SMRS and Simpson. McGuireWoods LLP LLP - Lower Layer Protocol provided legal advice. PricewaterhouseCoopers has provided consulting services to SMRS since their original investment in Simpson and provided strategic and corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. oversight to SMRS in this transaction. CS Capital Management, Inc. acted as advisor to APFC and Heller Ehrman LLP provided legal advice. About Simpson Housing Limited Partnership With its roots tracing back to 1948, Simpson is among the largest private residential developers, owners, and managers of multifamily housing in the nation. Simpson operates in 34 states and maintains its headquarters in Denver, CO. Simpson's three businesses consist of: 1) the operation of its core rental portfolio, 2) the development of multifamily housing communities, and 3) the operation of its affordable housing division, Simpson Housing Solutions, L.L.C. As of January 31, 2006, there were 63 communities in the core rental portfolio consisting of 19,241 units with a development pipeline of over 2,000 units. Currently, approximately 91% of Simpson is owned by affiliates of SMRS. |
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