Cross-border teams at Paul, Weiss, Rifkind, Wharton & Garrison and Simpson Thacher & Bartlett are among the firms advising on the latest big private equity deal as Stonepeak snaps up an Italian infrastructure company from Carlyle.

U.S.-founded buyout firm Stonepeak announced on Monday that it had agreed to acquire the 150-year-old Italian infrastructure company Forgital for a reported €1.5 billion.