Area of focus

Sovereigns: PPP / Complex Projects

We are a Tier 1 PPP/P3 advisor (Chambers  and Legal 500  directories) with over 20 years advising on PPP projects, their financings, and acquisitions.

Sovereigns often develop the ideas and evolve the policies to overcome the greatest global challenges, and never more so than in times of crisis. As a consequence, sovereigns have a strong record as promoters and catalysts of innovation. Sovereigns were behind the creation of the internet, and putting man on the moon. Sovereigns rarely act alone. More often than not, it is the collaboration between sovereigns and the private sector (a public private partnerships, or PPP), that originates and delivers innovation. Sovereigns provide the environment and incentives, and the private sector delivers innovative solutions.

We have worked with sovereigns, their partners and investors on a range of partnerships and complex projects, from education (aimed at raising child literacy), health care (aimed at providing international standard healthcare globally), to complex technology projects in aerospace.

Representative experience

The Met Office on the £1.2bn supercomputer project. The new supercomputer is designed to help improve forecasting of the Earth's atmosphere, making it more accurate, timely, and localized.

DFC in relation to a US$100m corporate financing for Africell Holding Limited, for the expansion of its mobile network operations in the Democratic Republic of the Congo, Sierra Leone, Uganda, and The Gambia.

The Singapore Sports Council in connection with its US$1.8bn Singapore Sports Hub project, the world's largest sports infrastructure PPP project, and the subsequent refinancing.

California Public Employees' Retirement System (CalPERS) on its acquisition of interest in the Indiana Toll Road.

EIB as senior lender on the refinancing of the £1.5bn UK M25 Highways PPP project.

The City and County of Denver, Colorado in conjunction with Colorado State University on a project for a private sector company to develop, design, engineer, construct, fund, operate, and maintain an integrated campus energy system.

A national oil company in the US$2bn financing by an international bank for expansion and upgrade of Puerto La Cruz Refinery, Venezuela.

Governments in connection with the negotiation of the concessions of the 1,500km Benin-Niger sections of the Rail African Rail Loop (€3bn).

IFC and other lenders on the financing for the development of the 50MW Mazar Independent Power Plant in Afghanistan, the country's first power plant fully financed, built, and operated by the private sector.

SNCF Réseau and French Government in relation to tendering of Tours-Bordeaux demand-based rail concession project and Nîmes-Montpellier availability based US$1.6bn High Speed Link PPP.

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