Herbert Smith, Norton Rose and V&E win prized energy mandates
Vinson & Elkins, Herbert Smith and Norton Rose have won coveted places on private equity house HG Capital's energy fund panel. Six firms tendered for places in a review process launched last summer by HG Capital general counsel John Kitching. The new panel will advise purely in relation to HG's Capital's fund investing in renewable energy.
February 21, 2008 at 12:57 AM
2 minute read
Vinson & Elkins, Herbert Smith and Norton Rose have won coveted places on private equity house HG Capital's energy fund panel.
Six firms tendered for places in a review process launched last summer by HG Capital general counsel John Kitching. The new panel will advise purely in relation to HG's Capital's fund investing in renewable energy.
The fund was raised in 2006 by fund manager Tom Murley, who led the panel review alongside Kitching.
Kitching told Legal Week: "All the presentations were good and it was a hard decision. We have chosen firms that have experience in the renewables sector and have particular expertise in development and equity transactions across Europe. The firms we have chosen have this and fit our geographic footprint".
Norton Rose has acted for the fund on four previous occasions, most recently advising on a wind farm financing project in Sweden, while Vinson & Elkins has a longstanding relationship with HG Capital.
However, it is Herbert Smith's first appointment for the fund. Project finance partner Andrew Newbery led the bid for the firm, having previously worked alongside HG Capital on project financing work while at his previous firm, Norton Rose.
He said: "HG's focus is aligned to our focus on climate change and sustainable development. They are doing exactly what we are trying to do, change the arena and put more focus on sustainable projects."
Norton Rose banking and projects partner Simon Currie said: "HG is an important pan-European player and, unlike some funds, has a really good track record with developers. We bring our European network to the table and will build on our previous relationship with the fund."
The fund panel is completely separate from the buy-out house's main panel, which includes SJ Berwin, Linklaters, Dickson Minto, Clifford Chance and Weil Gotshal & Manges.
Kitching, who joined the private equity spin-off in 1987 when it was Mercury Private Equity, is set to retire later this year and will be replaced by Weil Gotshal private equity consultant Alison Hampton.
HG Capital was established in 2000 and now has more than 200 institutional clients and around E2.5bn (£1.88bn) in funds under management.
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