Travers Smith LLP has advised Investec's Fund Solutions and Energy & Infrastructure teams as Sole Mandated Lead Arranger and Bookrunner on a NAV facility of up to $130 million for NextPower III ESG.
NextEnergy Capital is a leading specialist solar investment and asset manager, with presence across the Americas, Europe and APAC. They manage over $4 billion across five institutional funds, invested in over 500 assets with 2GW+ of installed capacity worldwide.
This facility will enhance the fund’s returns by optimising its capital structure and enabling further value-accretive investment.
Finance Partner Danny Peel commented: "We are delighted to have advised long-standing client Investec on this bespoke NAV facility, which enabled us to showcase our fund finance and infrastructure finance expertise – both of which were key to the successful delivery of this transaction".
The Travers Smith cross-practice team was led by Finance Partner Danny Peel, supported by Associates Hannah Ramsey, Reece Morgan and Charlie Gerlack, and Trainee Simon Evans. Infrastructure Finance Partner Ryan Ayrton, supported by Associate James O'Neill and Trainee Jamie Coupland, and Corporate Partner Jonathan Walters, supported by Senior Associate Fergus Macleod, provided energy and infrastructure sector expertise and due diligence support.
Fund Finance Partner Navdeep Benning led the Ashurst team advising NextEnergy.