Elite New York law firms Sullivan & Cromwell and Simpson Thacher & Bartlett have scooped lead roles of the latest private equity mega-deal in the US – Blackstone’s $26bn (£12.9bn) takeover of Hilton Hotels.

Sullivan is acting for the hotel group on the deal, which was announced yesterday (3 July), with Los Angeles-based corporate partners Alison Ressler and Patrick Brown spearheading the team.