Mishcon has advised Headway Investment Partners III L.P. (Headway) on its recommended takeover of Ludgate Environmental Fund Limited (Ludgate), a Jersey domiciled, closed-ended investment company, which is regulated by the Jersey Financial Services Commission. Ludgate's shares are admitted to trading on the AIM market of the London Stock Exchange.
Headway is advised by Headway Capital, an independent private equity secondary firm which is authorised and regulated by the Financial Conduct Authority. Headway Capital evaluates secondary investment opportunities for its advisory client base and currently advises four funds (including Headway) with in excess of €400 million of combined commitments.
Ludgate has investments in a broad portfolio of private and listed growth companies in the resource efficiency space including energy efficient, renewable energy generation, storage, recycling, industrial efficiencies and emission reduction technologies.
The Corporate team at Mishcon de Reya was led by Partner, Saul Sender with Legal Director, Shantanu Sinha and Associate, Lucinda Cridland. Funds advice was provided by Funds Partner, Daniel Greenaway and Associate, Charlotte Davidson.
Commenting on the transaction, Saul Sender said:
"We have been delighted to assist Headway in this transaction. It gives Ludgate shareholders the opportunity to realise an immediate exit or retain their interest alongside Headway".
GCA Altium acted as financial advisers to Headway and Panmure Gordon advised Ludgate. Norton Rose Fulbright LLP were Ludgate's legal advisers.