David Mendel

Freshfields Bruckhaus Deringer (“Freshfields”) is advising Equans, a subsidiary of the Bouygues group, on the proposed sale of its district heating and cooling networks in the UK to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat. The portfolio includes district heating and cooling concessions often known as Equans Urban Energy, and includes East London Energy Limited and Equans DE Holding Company Limited. Humber Energy will also be included in the transaction. Completion of the transaction is expected in the last quarter of 2023, subject to relevant approvals. The Freshfields team is being led by partners Richard Johnson, Olivier Rogivue and Graham Watson, together with partners Giles Pratt on separation matters; David Haworth and Peter Clements on tax matters; Rikki Haria on merger control and foreign investment matters; and David Mendel on employment, benefits and pensions matters.

Sep 18

1 min

Freshfields is advising longstanding client and the UK’s largest household energy supplier Octopus Energy on the first standalone investment round into its world-leading AI-powered operating platform, Kraken. The funding round values Kraken at $8.65bn, and is led by D1 Capital Partners and includes other new investors Fidelity International, Durable Capital Partners and Ontario Teachers’ Pension Plan Board. The new investors, together with existing Octopus Energy investors, will acquire c. $1bn of Kraken equity to fund both Octopus and Kraken, while investors led by Octopus Capital are injecting a further $320m into Octopus Energy. The investment round paves the way for Kraken’s demerger from Octopus Energy, enabling Kraken to operate as a fully independent technology platform for utilities worldwide, accelerating global adoption and deepening partnerships, while allowing Octopus Energy to focus on scaling its consumer, generation, and clean technology businesses. A cross-border, cross practice Freshfields team is led by partners Ed Cole and Tom Godwin, supported by associates Yoel Gordon and Tom Hirao-Sandford. Partner Matt Goulding, counsel Michal Netanyahu, and associate Andrew Rondeau advised from a US private capital perspective. Partner David Haworth, counsel Rose Swaffield, senior associate Benjamin Crompton and associate Tom Gardner provided tax advice; partner Giles Pratt, counsel Tom Dye and associate Vanessa Jiang advised on IP and separation aspects; partner Andrew Heathcote and associate Magdalen Olonilua advised in relation to Octopus Energy’s banking facilities; partner Michele Davis, senior associates Harriet Drury and Kaidy Long, and associate Anna Smith supported on antitrust/regulatory matters; and partner David Mendel, counsel Regina Erie and associate Sarah Richardson advised on employment and incentive arrangements.

Jan 5

1 min

Freshfields Bruckhaus Deringer ('Freshfields') is advising Keppel Corporation Limited ('Keppel') on its agreement with Aermont Capital SCSp to acquire leading European real estate manager, Aermont Capital ('Aermont'). Established in 2007, Aermont is an independent asset management business focused on real estate and real estate-related investment activities in Europe, and in 2023 was ranked by PERE as the highest among Europe-based real estate firms in terms of funds raised in the last five years.  Its assets under management include the world-renowned Pinewood Studios in the UK. Keppel is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered and listed in Singapore, Keppel operates in more than 20 countries worldwide and has more than S$65 billion of assets under management. The transaction will take place in two phases, with Keppel initially acquiring a 50% stake in H1 2024 (subject to identified regulatory and other approvals) and the full acquisition expected in 2028, with consideration expected be funded through a combination of cash and Keppel shares. The Freshfields team is being led from London by Richard Johnson, together with Alastair Mordaunt on antitrust matters; James Smethurst on financial services regulatory matters; Keith Chapman on funds matters; Jill Gatehouse and Emily Szasz on tax matters; David Mendel on employment and pensions matters; Vikki Hills on real estate matters; and Giles Pratt on IP/IT matters.

Nov 30

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Cinven on its majority investment in Alter Domus, a leading global provider of end-to-end tech-enabled fund administration and corporate services across private equity, real assets, and private debt. Cinven will support the long-term strategic growth of Alter Domus, working in close partnership with Alter Domus’ founders and Permira. The transaction is subject to regulatory approvals and other customary closing conditions. The Freshfields team was led by private capital partners Victoria Sigeti and Alastair Brown and senior associate Jay Swain together with financing and capital markets partners Aled Batey and Haden Henderson. James Smethurst was the partner leading on financial regulatory matters, partner May Smith advised on tax matters, partner Martin McElwee on antitrust and partner David Mendel on employment and incentives. This latest acquisition carries on Freshfields’ long-standing relationship with Cinven, having recently advised Cinven on its investment in group.One and its acquisitions of Master Builders Solutions, Netceed and life insurer International Financial Group Limited.

Mar 5

1 min

Freshfields is advising international private equity firm Cinven on its majority investment in Grant Thornton UK, one of the UK’s leading diversified professional services firms offering audit, tax, and advisory services. Founded in 1904, Grant Thornton is one of the UK’s largest professional services firms, with over 240 partners and 5,500 employees across more than 20 offices. Cinven’s investment will support Grant Thornton’s strategy to drive growth through technology enablement, talent development, and expanding its leadership in the professional services sector. The transaction is subject to partner ratification, regulatory approvals, and customary closing conditions. A cross-practice Freshfields team in London advising Cinven was led by private capital partners James Scott and Alastair Brown, with leveraged finance partner Aled Batey leading on debt financing. James Smethurst provided financial regulatory advice, while merger control and FDI matters were handled by Martin McElwee. Partner David Mendel advised on people and reward workstreams, Dawn Heath on pensions matters and May Smith led on tax matters.

Nov 21

1 min