A Travers Smith team led by head of Investment Funds, Sam Kay, has advised Hermes GPE Infrastructure LP (the "Fund") on its successful final closing. The Fund, together with its related accounts, raised a total of £1.16billion, with the Fund itself raising £1billion from 18 investors in total, exceeding its £800million target.
Travers Smith's work included negotiating with investors and providing tax and regulatory advice (including advice on the implications of the fundraising straddling the period when the AIFM Directive came into force).
Sam Kay, Head of Investment Funds, commented:
"We are delighted to have advised the Hermes Infrastructure team on the fundraising of Hermes GPE Infrastructure LP. The success of this fundraising demonstrates that infrastructure is an increasingly important asset class within the alternatives sector. Our investment funds work for infrastructure clients is part of the wider expertise we provide through our Energy, Natural Resources and Infrastructure Group".