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Hogan Lovells advises KGAL Group on the first closing of its core plus European renewable fund ESPF 4

10 July 2017

Tobias Seidl, Senior Associate, together with Pierre Reuter, Office managing Partner, both Investment Funds, Luxembourg, led a cross border, cross practice team advising KGAL on the setting up and the first closing of KGAL's core plus European renewable fund ESPF 4.

The team advised KGAL in particular on the drafting of the fund documentation, the regulatory approval process and the negotiations with the initial investors of the Fund.

The Luxembourg-based specialized investment fund has attracted initially EUR 255 million of commitments from four major European institutional investors including the European Investment Bank, two Dutch pension funds and a German insurance company.

KGAL ESPF 4’ s core plus investment strategy focuses on the entire spectrum of the value chain in the fields of wind, photovoltaics and hydropower – with a focus on greenfield investments – across Europe. Capital deployment will focus on opportunities in wind repowering, hydro power consolidation, PV value enhancement and opportunistic power storage synergies.

Other team members advising on this deal are Gerard Neiens (Partner, Tax), Heiko Gemmel (Partner, Tax / Insurance Regulatory), Michael Leistikow (Partner, Corporate), Jean-Philippe Monmousseau (Senior Associate, Tax), Christian Reichmann (Senior Associate, Corporate), Simon Recher (Junior Associate, Investment Funds) and Grace Adelakun (Junior Associate, Tax).

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