Freshfields Bruckhaus Deringer and Clifford Chance (CC) have picked up lead roles advising on John Laing's planned initial public offering (IPO) in London as the infrastructure investment group seeks to raise £130m to fund new investments.

Clifford Chance is acting for the underwriters, HSBC and Barclays, on the transaction, which was announced yesterday (19 January). The firm is fielding a team led by capital markets partner Simon Thomas, which also includes US securities partner John Connolly and associates Ben Morgan and Chris Osborne.

Freshfields is advising John Laing which has said it wants to raise cash to fund "new investment commitments", and for general corporate purposes. Freshfields' team is being led by corporate partner Oliver Lazenby, with fellow corporate partner Jonathan Baird and senior associate Giles Rowbotham also advising.

The company, which was taken private by Henderson in late 2006, had an investment portfolio book value of £781m at September 30 last year.

Freshfields has an existing relationship with selling shareholder Henderson, as it advised the investment manager when it took John Laing private.

John Laing's business is focused on major transport, social and environmental infrastructure projects awarded under governmental public-private partnership programmes, and renewable energy projects across a range of international markets.

The planned listing comes after travel company Trainline.com announced plans to list on the London Stock Exchange earlier this month. Travers Smith won the mandate to advise Trainline, while Herbert Smith Freehills (HSF) is advising the banks on the listing, which are led by Morgan Stanley with JP Morgan Cazenove and Numis acting as joint bookrunners.