Global law firm Ashurst Perkins Coie has advised leading infrastructure and real assets investment manager Foresight Group on a A$660 million capital raise to be invested in global mass transit operator Kinetic via a continuation vehicle.
This transaction involved the structuring and establishment of the continuation vehicle, including the negotiation of its terms with Australian and international institutional investors. The transaction was oversubscribed, further evidence of the surging market for continuation vehicles and secondaries at present.
The Ashurst Perkins Coie cross border team was led by investment funds partner James Ford and corporate partner Nigel Deed, supported on fund matters by counsel Marc Hirtz and associates Ernest Yim and Stella Rante, and on corporate matters by senior associates David Donaldson and Gerard McGookin and associate Laura Kokolis, showcasing Ashurst Perkins Coie's breadth of global expertise in this space. Partners Sharon Kim and Alexandra Cloute and senior associate Minjung Kook advised on tax matters and partner Melissa Fraser and senior associate Julia Carland advised on competition matters.
Commenting on the transaction, partner James Ford said: "It was real highlight to help Foresight with this exciting transaction, bringing together multiple centres of excellence from across the Ashurst Perkins Coie global network to deliver one of the largest single asset continuation funds in the APAC infrastructure space."
Nigel Deed added: "It has been a pleasure to assist the Foresight team with this investment since day one and we are delighted to be able to bring our global expertise to bear in delivering this innovative liquidity solution."
