City giants top slashed LS Trillium panel
Land Securities Trillium (LST) has slashed its roster of external advisers, with two-thirds of its previously preferred firms missing out, following the property outsourcing giant's first-ever formal panel review. Allen & Overy (A&O) and Freshfields Bruckhaus Deringer are handed coveted roles as LST's main strategic advisers at the top of a three-tier panel system.
March 10, 2008 at 08:11 AM
2 minute read
Land Securities Trillium (LST) has slashed its roster of external advisers, with two-thirds of its previously preferred firms missing out, following the property outsourcing giant's first-ever formal panel review.
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer are handed coveted roles as LST's main strategic advisers at the top of a three-tier panel system.
Freshfields banking partner Jeffrey Rubinoff cemented the magic circle's long-term relationship with the group, while real estate partner Daniel McKimm led the bid for A&O.
City firms Ashurst, Berwin Leighton Paisner, CMS Cameron McKenna and Lovells are named alongside national giant Pinsent Masons on the second-tier panel and will advise on interdisciplinary transactional work including real estate, M&A and private finance initiatives.
The review was completed late last year and was overseen by LST legal director Tom Symes.
LST has also named a third tier of firms to look after regeneration and public private partnerships (PPPs), with top 10 UK firm Eversheds among a clutch of national firms given the nod.
The review comes after a series of major acquisitions – including deals to take over Investors in the Community, AMEC Projects Investments and the Secondary Market Infrastructure Fund – left LST with more than 30 advisers.
LST, a subsidiary of FTSE100 giant Land Securities, is the UK's leading provider of property outsourcing and PPPs. Last month, Land Securities began an auction for LST that could see the outsourcing group fetch up to £1.5bn.
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