Nick Heather is a member of the firms corporate group and head of the listed investment funds team. He specialises in corporate finance, mergers and acquisitions and Stock Exchange related work.
Nick has advised on numerous AIM and Main Market IPOs and secondary transactions, acting either for the company concerned or the investment bank/broker. In addition, Nick has advised on a number of takeovers, both recommended and hostile, and has a reputation for advising, both for and against, on high profile shareholder activism issues.
As head of the investment funds team, Nick's clients include UK and international investment management companies, institutional investors and advisers. He also has considerable experience in providing advice on indirect investment into UK, European and global real estate.
AIM and Main Market listed companies and the investment banks/brokers that advise them. Clients include abrdn, Stifel, Liberum Capital, Laxey Partners, N+1 Singer, finnCap, Investec, Numis, Jefferies International and AssetCo PLC.
"Very commercial, has wide experience and provides creative solutions."
"Personable, has a deep commercial understanding of funds, provides creative solutions, is well connected in the industry and provides excellent client management."
Admitted to the Legal 500 "Hall of Fame" for investment fund formation and management – listed funds
The Legal 500 UK
"Nick Heather is praised for his good knowledge of offshore jurisdictions and his pragmatic approach to corporate matters. He knows what to argue and what not to argue his clients say".
"Nick has an in-depth knowledge of the funds market and seems totally on top of his subject. He is always commercial and finds answers not problems"
- Acting on AIM IPO's raising in aggregate of over £2 billion including acting for Dolphin Capital Investors Limited, Vinaland Limited, Pacific Alliance Asia Opportunity Fund Limited, Japan Residential Investment Company Limited and Kubera Cross-Border Fund Limited.
- Advising British Land on its acquisition of a 50 per cent interest in the Southgate Shopping Centre, both for £101 million.
- Advising Jefferies on the IPO and subsequent secondary issue of VPC Specialty Lending Investments PLC raising approximately £400 million.
- Advising Japan Residential Investment Company Limited ("JRIC") on the recommended offer (by way of a scheme of arrangement) by funds managed by Blackstone which valued JRIC at £152 million.
- Advising The Conygar Investment Company PLC on the complex disposal of the special purpose vehicles that owned its investment property portfolio and attributed a value to the investment property portfolio at £130 million.
- Advising RM Infrastructure Income PLC on its admission to the premium listing segment of the Official List and to trading on the London Stock Exchange pursuant to placing and offer for subscription and on its subsequent C share and ZDP Share issues raising in aggregate over £100 million.
- Acting for Panmure Gordon in respect of the complex restructuring of Polar Capital Global Healthcare Growth and Income Trust PLC, involving a tender offer for all shares in issue, a placing and offer for subscription for new ordinary shares and the formation of a subsidiary that issued zero dividend preference shares by way of a placing.
- Acting for Numis Securities on the launch of Accelerated Digital Ventures Limited ("ADV") a new venture platform that will fund all stages of the digital technology business life cycle from entry to exit. The British Business Bank, a British multinational financial services company and Woodford Investment Management committed £150 million to ADV on its launch.
- Acting for London and St Lawrence Investment Company PLC on recommended proposals for a scheme of reconstruction and voluntary winding including a "roll-over" opportunity into the Practical Investment Fund.
- Acting for abrdn European Logistics Income PLC on its admission to the premium listing segment of the Official List and to trading on the London Stock Exchange with associated placing and offer for subscription that raised £187.5 million.
- Acting for Investec Bank PLC as sole sponsor, broker and intermediaries adviser on the IPO of Smithson Investment Trust PLC which raised £822.5 million.
- Acting for Tufton Oceanic Assets Limited on its admission to the specialist funds segment of the main market with associated placing and offer for subscription together with subsequent C Share and Ordinary Share issues raising in excess of $200 million in aggregate.
- Advising Jefferies, as sole sponsor and broker, on the IPO of SDCL Energy Efficiency Income Trust PLC which raised £100 million.
- Advising Round Hill Music Royalty Fund Limited on its admission to the specialist fund segment of the main market with associated placing and offer for subscription together with an initial placing under its placing programme raising in aggregate $328 million.
- Between May 2021 and January 2023 Nick served as part-time general counsel to AssetCo PLC (a new investment management vehicle whose management team is led by Martin Gilbert). During this time AssetCo made multiple acquisitions culminating in the takeover (by way of scheme or arrangement) of River and Mercantile Group PLC which constituted a "reverse" for AssetCo. Nick continues to serve as outside Counsel to AssetCo.