Rizvi Traverse Management LLC via its fund Rizvi Opportunistic Equity Fund II, L.P agreed to acquire an 75% stake in SESAC LLC from Stephen Swid, Allen & Co, Freddie Gershon, Och-Ziff Capital Management Group LLC and Ira Smith for $600 million on December 11, 2012. As on December 11, 2012, the transaction was granted early termination notice from a Hart-Scott-Rodino anti-trust review with the Federal Trade Commission. Akin Gump Strauss Hauer & Feld LLP acted as legal advisor for Rizvi. Wachtell, Lipton, Rosen & Katz acted as legal advisor for SESAC, Allen and Och-Ziff. Michael Ronen and Aaron Siegel of Goldman Sachs Group Inc. acted as the financial advisor to SESAC while John Josephson of Allen & Co acted as the financial advisor to SESAC. Jefferies & Company, Inc. and Aryeh Bourkoff, Ehren Stenzler and Matt Feldman of LionTree Advisors LLC acted as the financial advisors to Rizvi Traverse. Joshua W. Thompson, Jessica K. Delbaum, Douglas R. McFadyen, Steven E. Sherman, Matthew Gautier, C. N. Wood, Jordan J. Altman, Milana Dabran, Timothy J. Haney, Jack Mellyn, Daniel B. Smith and Gary S. Tashjian of Shearman & Sterling LLP acted as the legal advisors to Jefferies Finance LLC in connection with a $360 million financing, comprised of a $250 million first lien financing and $110 million second lien financing, related to the acquisition of SESAC by Rizvi Traverse.

Rizvi Traverse Management LLC via its fund Rizvi Opportunistic Equity Fund II, L.P completed the acquisition of 75% stake in SESAC LLC from Stephen Swid, Allen & Co, Freddie Gershon, Och-Ziff Capital Management Group LLC and Ira Smith on January 3, 2013.