Pinsent Masons, Morrison & Foerster (MoFo) and Greenberg Traurig have taken the lead roles on a £125m bond issue by the London School of Economics and Political Science (LSE).

The private placement makes the LSE the latest UK university to tap the bond markets. In July Manchester issued a £300m bond, while both Cambridge and De Montfort universities secured private funding through the sale of bonds in 2012.

Pinsents acted as sole English counsel and drafting counsel to the LSE, with banking partner Edward Sunderland leading a team that included senior associates Esther Parkes and Gayle Ditchburn.

The instruction is the firm's sixth US private placement for UK issuers this year.

For US law advice, the LSE turned to London-based MoFo partner Brian Bates. Earlier this year Bates worked on another notable private placement, when he advised the BBC on its first-ever direct bond issue, which raised £170m.

One partner at a rival firm said: "Brian and his team have a bit of a monopoly on the issuer side [in London] when US advice is required for private placements."

As the deal was a private placement, no underwriters counsel was needed. Barclays, which acted as placement agent, fielded a team overseen by credit strategist Ash Shah and including in-house lawyers.

The bank also had a hand in procuring Greenberg Traurig to act for the US investors in the bonds, with Chicago-based partner Charles Kolin leading a team.