Gowling WLG advises on Octopus Renewables Infrastructure Trust's £350 million IPO

3 minute read
03 December 2019

International law firm Gowling WLG's top ranked Investment Funds team has advised new client, Octopus Renewables Infrastructure Trust plc (the "Company") on its initial public offering (IPO) which raised £350 million.

The Company will invest in a diversified portfolio of renewable energy assets in Europe and Australia.

Managed by Octopus Investments Limited, a leading manager of alternative strategies managing over £8.6 billion of assets for over 64,000 retail and institutional investors, the Company aims to provide shareholders with an attractive and sustainable level of income returns, with an element of capital growth.

Gowling WLG advised on all the UK legal and regulatory issues regarding the transaction.

The Gowling WLG team was led by investment funds partner Oliver Riley who was assisted by principal associate Kate Seabourne, associate Craig Griffiths, trainee Solicitor Henry Lougher and tax partner Michael Murphy. Regulatory advice was led by principal associate Kam Dhillon, and energy sector support was provided by corporate partner Gareth Baker.

Oliver Riley said: "We are delighted to have advised Octopus Renewables Infrastructure Trust on its successful IPO. The success of the IPO is an endorsement of the Octopus team and the Company's investment strategy. We look forward to assisting the Company on future transactions."

Matt Setchell, co-head of Octopus Renewables, said of the Company: "We are delighted with the result of the successful IPO, which is a significant and exciting milestone for both the Company and Octopus Renewables, as we aim to accelerate towards a future powered by clean energy. The listing is testament to strong institutional and retail investor interest not just in returns but also in making a meaningful impact with their investments. We look forward to increasing renewable infrastructure both in the UK and internationally and helping to mitigate climate change which is vital both for us and future generations."

Following on from several mandates this year - which included advising Co-Op Energy on their strategic partnership with Octopus Energy - this latest deal success marks a standout year for the firm's Energy lawyers. In November, the team was recognised for its leading Energy & Renewables practice in the The Times Best Law Firms 2020, later being shortlisted in three categories in the upcoming The Legal 500 UK 2020 Awards including nominations for Firm of the Year, Firm of the Year (outside London), and Individual of the Year (outside London).

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