Blair T. Thetford

Blair T. Thetford

Partner, Mergers and Acquisitions; Private Equity; Real Estate Investment Trusts
Blair Thetford focuses on mergers and acquisitions, private equity, securities transactions and general corporate matters.


Mr. Thetford has represented strategic clients, financial institutions, private equity sponsors, portfolio companies, family offices and special committees on a variety of U.S. and cross-border acquisitions and dispositions, investments, joint ventures, restructurings, spin-offs, initial public offerings and REIT transactions. He regularly advises clients on shareholder activism, takeover preparedness, securities laws, SEC disclosure and corporate governance matters. Mr. Thetford also represents investment banks as financial advisors in M&A transactions.

Mr. Thetford has represented a diverse range of clients in a broad range of industries, including:

  • Willis Towers Watson in its pending $80 billion combination with Aon plc;
  • Apartment Investment and Management Company (an UPREIT) in its publicly announced spin-off of Apartment Income REIT;
  • Fortress Investment Group LLC in a variety of matters, including its:
    • $3.3 billion acquisition by SoftBank Group Corp.;
    • $250 million sale of Logan Circle Partners, Fortress’ traditional asset management business, to MetLife, Inc.;
    • prior acquisition of Logan Circle Partners from Guggenheim Capital;
    • sale of its majority stake in Abercrombie & Kent Group of Companies, S.A. to Zhonghong Holdings;
    • 80 percent acquisition of American General Finance Inc. from AIG; and
    • sale of Iroko Holdings, LLC;
  • Wes Edens, founder of Fortress Investment Group and owner of the Milwaukee Bucks, in his joint investment with Nassef Sawiris in Aston Villa Football Club;
  • Becton, Dickinson and Company in its $24 billion acquisition of C. R. Bard, Inc.;
  • Aircastle Limited in a variety of matters, including:
    • its $7.4 billion acquisition by Marubeni Corporation and Mizuho Leasing Company, Limited; and
    • the PIPE investment made in the company by Marubeni Corporation;
  • Healthpeak Properties, Inc. (formerly HCP, Inc.) (a REIT) in various transactions, including its:
    • spin-off of Quality Care Properties, Inc., a publicly traded REIT; and
    • $6.1 billion acquisition of the real estate assets of HCR Manor Care from The Carlyle Group;
  • Vanguard Health Systems, Inc. in its $4.3 billion acquisition by Tenet Healthcare Corporation;
  • Life Time Fitness, Inc. in its $4 billion acquisition by Leonard Green & Partners and TPG Capital and its exploration of a spin-off of its real estate assets into a REIT;
  • Brookdale Senior Living Inc. in a number of transactions, including:
    • the restructuring of its master lease with Ventas, Inc., including the sale of a $100 million housing portfolio and the issuance of warrants;
    • its $2.8 billion merger with Emeritus Corporation;
    • its $1.2 billion joint venture with HCP, Inc.; and
    • its $204 million acquisition of senior housing assets from Sunrise Senior Living, Inc.;
  • Danaher Corporation in numerous M&A matters, including:
    • a $2.6 billion Reverse Morris Trust transaction involving the merger of its communications business with NetScout Systems, Inc.;
    • its acquisition of Devicor Medical Products; and
    • its $300 million acquisition of Keithley Instruments, Inc.;
  • RailAmerica, Inc. in its $2.8 billion acquisition by Genesee & Wyoming Inc.;
  • SeaCube Container Leasing Ltd. in its $1.8 billion acquisition by Ontario Teachers’ Pension Plan;
  • Emeritus Corporation in the sale by its joint venture with Blackstone Real Estate Partners of $1.8 billion of senior housing communities to HCP, Inc.;
  • Intrawest Resorts Holdings, Inc. in its $1.5 billion acquisition by Aspen Skiing Co, LLC and KSL Capital Partners, LLC;
  • OneMain Holdings, Inc. in the $1.5 billion acquisition of a 40 percent stake by an investor group led by Apollo Global Management, LLC and Värde Partners, Inc.;
  • New Residential Investment Corp. (a REIT) in its:
    • $1.4 billion acquisition of Home Loan Servicing Solutions, Ltd.;
    • $212 million acquisition of Shellpoint Partners LLC; and
    • $600 million capital raise (senior secured loan and warrants) from Canyon Partners;
  • Holiday Retirement Corporation in its:
    • sale of a $1 billion senior housing portfolio to Newcastle Investment Corp.; and
    • sale of a $790 million senior housing portfolio to Ventas, Inc.;
  • Hg in a number of M&A matters, including its:
    • acquisition of Litera Microsystems; and
    • sale of Sovos Compliance to Hg Saturn 2 and TA Associates;
  • York Capital Management in connection with various acquisitions, dispositions and investments, including its sale of The Bay Club Company to KKR;

  • HPS Investment Partners in its acquisition of Citadel Servicing Corporation;

  • Perella Weinberg Partners in a variety of matters for both its asset management and advisory businesses, including the spin-out of its growth equity platform to GreyLion Capital LP;

  • Granite Point Mortgage Trust Inc. (a REIT) in its $600 million capital raise (senior secured loan and warrants) from PIMCO;

  • Sculptor Capital Management, Inc. (formerly Och-Ziff Capital Management Group LLC) in a variety of matters, including its recapitalization involving a significant equity reallocation from its founding partners to current management;

  • New Senior Investment Group Inc. (a REIT) in connection with its publicly announced exploration of strategic alternatives and subsequent internalization of management;

  • affiliates of MSX International, Inc. in connection with its acquisition by Bain Capital;
  • Darden Restaurants, Inc. in the spin-off of Four Corners Property Trust, Inc., a publicly traded REIT;
  • Drive Shack Inc. (formerly Newcastle Investment Corp.) in connection with its conversion from a REIT to a C-Corporation and subsequent internalization of management; and
  • a number of other publicly traded REITs, including SL Green Realty Corp. and CyrusOne Inc., in connection with various corporate, financing and other matters.

Mr. Thetford has advised various public companies in connection with proxy fights and other activist investor matters, including Aimco (Land & Buildings), Brookdale Senior Living Inc. (Land & Buildings; Sandell Asset Management), New Senior Investment Group Inc. (Levin Capital Strategies) and Newcastle Investment Corp. (BLR Partners).

He also has advised a number of issuers in connection with initial public offerings, including Moelis & Company, One Main Holdings, Inc. (formerly Springleaf Holdings, Inc.), SeaCube Container Leasing Ltd. and RailAmerica, Inc.

Mr. Thetford was featured in The Dealmaker Quarterly as one of the 2019 Rising Stars in M&A.



  • J.D., Fordham University School of Law, 2008 (Member, Fordham Law Review)
  • B.A., University of California, Berkeley, 2001


  • New York

Blair T. Thetford

Partner, Mergers and Acquisitions; Private Equity; Real Estate Investment Trusts