Deal: Piper Alderman has advised Log Creek, the majority shareholder of Infrastructure Capital Holdings (ICH), on the sale of 100 per cent of the shares in ICH to a wholly owned subsidiary of London Stock Exchange-listed Foresight Group Holdings Limited for up to $140 million.

Value: $140 million

Area: Merger and acquisition

Key players: The Piper Alderman deal team was led by Hugh Scales and James Hill, who advised Log Creek across all stages of the transaction lifecycle, including in relation to preliminary negotiations, drafting and negotiating the transaction documentation and advising on all related matters in respect of the transaction.

Deal significance: Since its inception, Infrastructure Capital Group and its subsidiaries (collectively ICH) have deployed capital across 13 realised and 21 unrealised investments. Infrastructure Capital Group offers investors access to portfolios that are diversified by sector, counterparty and risk profile, managing three flagship funds, all of which have a proven performance track record. 

Mike Fitzpatrick, majority shareholder of ICH, said that the transaction offered “obvious benefits” to their investors.

“As part of the combined group, Infrastructure Capital will offer a wider range of products developed from a deeper talent pool, responding to the consolidation in the institutional market. Both firms have a long and deep commitment to renewables, which will continue to be a focus,” he said.

VIEW ALL

“Interestingly, management of each firm sees the world in much the same way, and integration will not be a challenge. Infrastructure Capital is in a strong position, with over A$3 billion of FUM, and one of the best positioned renewables funds in the Australian market in ARIF, which has wind, solar and hydro assets, and is trialling hydrogen power storage to add value to those assets. I am looking forward to becoming a shareholder in Foresight as part of this transaction.”