Global menu

Our global pages

Close

Eversheds Sutherland advises on IPO of Gresham House Energy Storage Fund

  • Global

    20-11-2018

    Eversheds Sutherland has advised on the £100m Initial Public Offering by Cantor Fitzgerald Europe of shares in Gresham House Energy Storage Fund PLC (the Fund) a new investment trust company managed by Gresham House Asset Management (GHAM).

    The Fund is investing in operational Energy Storage Systems (ESS) sourced and developed by GHAM and is differentiated from previous ESS funds by having a defined and disclosed pipeline of assets to invest in. An initial seed portfolio of ESS assets with a capacity of 70 MW was acquired on the Fund’s admission to the Specialist Funds Segment of the London Stock Exchange’s Main Market.

    The cross-practice Eversheds Sutherland team was led by Partner Ronald Paterson (financial services). Partner Stephen Hill and Principal Associate Caroline Clapham (both corporate) advised on the acquisition of the ESS assets. Legal director Camilla Spielman advised on tax.

    Ronald Paterson commented:

    “We are delighted that the Fund has successfully launched on the London Stock Exchange’s Specialist Funds Segment. This transaction brings together our experience in three areas where we are recognised as leading players – Listed Closed Ended Funds, Funds Tax and Renewable and Clean Energy.”

    John S Leggate CBE, Chairman, Gresham House Energy Storage Fund commented:

    “The Board really wants to acknowledge the tremendous efforts by everyone to bring this Fund to market. This is a new and highly strategic sector which is of increasing importance as the world decarbonises its energy supply chain.”

    Rupert Robinson, Managing Director, Gresham House Asset Management commented:

    “We look forward to continuing to work closely with the Board and our advisers to make sure this is the first step on the road to building a large and very successful Fund.”

    Robert Peel, Managing Director, Investment Companies Corporate Finance at Cantor Fitzgerald Europe commented

    “Eversheds Sutherland provided a first rate team to advise on this complex transaction. Their combination of expertise in financial services, energy storage and tax was greatly valued by all those involved in the IPO.”

    Ronald Paterson, Partner
    Caroline Clapham, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back

    Print Friendly and PDF

    © Eversheds Sutherland 2021. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

    Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.