TPG in Joint Venture with CIT

Cleary Gottlieb represented TPG Special Situations Partners in the structuring and formation of Strategic Credit Partners Holdings LLC, a joint venture between TPG and CIT Group Inc. Strategic Credit Partners will have a target size of $500 million and provide senior secured financing to companies in a variety of industries throughout the United States. TPG Special Situation Partners is a dedicated special situations and credit platform with over $12 billion of assets under management, and part of TPG Capital, a leading global private investment firm. CIT is a leading provider of commercial lending and leasing services. The transaction closed August 25, 2015.