United Kingdom > London > Projects, energy and natural resources > Private finance initiative (PFI)
Index of tables
Private finance initiative (PFI)
Leading individuals
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- Ian Andrews Linklaters LLP
- Richard Armitage Simmons & Simmons
- Anne Baldock Allen & Overy LLP
- Andrew Castle Allen & Overy LLP
- Mark Elsey Ashurst LLP
- Barry Francis Pinsent Masons LLP
- Ian Hodgson SNR Denton
- Andrew Ivison CMS Cameron McKenna LLP
- Tessa Kimber Berwin Leighton Paisner LLP
- David Lee Allen & Overy LLP
- Logan Mair Ashurst LLP
- Mike Matheou Hogan Lovells International LLP
- Jason Radford Ashurst LLP
- Stuart Rowson Linklaters LLP
- Tim Steadman Clifford Chance
- Nicholas Tott Herbert Smith LLP
- Philip Vernon Ashurst LLP
- Adrian Walker Hogan Lovells International LLP
- Bruce White Linklaters LLP
- Colin Wilson DLA Piper UK LLP
Allen & Overy LLP fields ‘more than good lawyers: it also houses good dealmakers’ – particularly on the finance side, where ‘few come close’. Anne Baldock’s team includes Conrad Andersen, who is ‘one of the best commercial lawyers in the market, offering a unique blend of pragmatic, commercial and legal guidance’; Andrew Castle, who ‘has exceptional knowledge of the waste industry’; and David Lee. In 2010, health, education and transport were all active areas, but the highlights were advising the funders to the successful consortium on the High Speed 1 (HS1) PPP sale, and defying the slowdown in health to advise the lenders on the successful close of the £627m Southmead Hospital project.
Ashurst LLP is a ‘cut above the rest’, with ‘in-depth knowledge’ and ‘impressive strength in depth’. Team head Mark Elsey ‘consistently deploys his team skilfully’; Logan Mair is a ‘great all-rounder’; Philip Vernon is ‘technically excellent’; and Jason Radford is also singled out. Despite the slowdown in UK PFI, the firm retains an enviable balance between international and domestic work. Indicative of its standing in the national market, the firm is the main adviser to Crossrail on its high-profile rail project. The firm also advised the Skanska/Innisfree consortium on the $1.35bn Nya Karolinska Solna Hospital PPP in Sweden.
Linklaters LLP ‘does the job quickly, expertly and without the fuss’. Project finance head Bruce White has ‘unsurpassed knowledge of the sector’; Stuart Rowson is noted for his ‘good commercial sense’; and Ian Andrews is also recommended. On the international side, the firm advised the consortium on the €600m Moscow Minsk Motorway PPP, while among its domestic mandates it advised a Carillion-led consortium on the £627m Southmead Hospital PFI.
The team at CMS Cameron McKenna LLP is ‘flexible, and able to navigate challenges’. Although Frank Dufficy left the practice in 2010, it retains a ‘strong group knowledge that ensures expertise isn ’t reliant on one partner’. Recommended names include Jason Davies, who is ‘always considered and commercial’; and Paul Smith, an ‘exceptional communicator who translates complex legal points into plain English’. Transport is a major strength, and the firm is advising the DfT on the restructuring of the Channel Tunnel Rail Link.
Clifford Chance fields a ‘first-rate’ team, with Andrew Rolfe praised as a ‘good commercial lawyer’; Gavin Teague singled out for his ‘in-depth sector knowledge’; and David Bickerton recommended for his ‘customer-facing approach’. In a strong illustration of its infrastructure pedigree, the firm secured several mandates on the same deal in 2010, advising two separate consortia, and the senior funders to a third group, bidding on the auction sale of the UK’s HS1.
Freshfields Bruckhaus Deringer LLP may not have the volume of the top-tier firms, but its focus on complex pathfinder projects ensures a healthy deal flow. The firm ‘strikes a good balance between attention to detail and commerciality’, and is advising the DfT on the Thameslink rolling stock project, which comprises a hybrid contractual structure involving traditional rolling stock leasing as well as PPP/PFI elements.
DLA Piper UK LLP is praised for its ‘good client-facing skills’ and ‘willingness to go that extra mile’. Led by Colin Wilson, the team includes Liam Cowell, who is respected for his ‘non-combative style’. Transport and defence are strong areas, and the firm is advising Halton Borough Council on the £2bn development of the new Mersey Gateway Bridge.
At Herbert Smith LLP, the ‘hugely experienced’ Patrick Mitchell heads a team that includes Nicholas Tott and new arrival Matthew Job from Linklaters LLP. Transport, particularly rail, is a specialism: ‘what the firm doesn ’t know about rail just isn’t worth knowing.’ Highlights included acting for London & Continental Railways on its disposal of HS1.
Hogan Lovells International LLP is ‘very approachable’ and ‘deal focused’; standout names include ‘technical’ team head Adrian Walker and the ‘down-to-earth’ Andrew Briggs. The firm advised Serco on the DCMF Belmarsh West Prison PFI, notable as the first prison contract to be awarded in the UK to an alliance of the private and voluntary sectors.
Norton Rose LLP is praised for its expertise in the waste and transport sectors. PFI head Martin McCann ‘articulates positions in a robust and logical way’, and Mark Berry has the ‘ability to address challenging issues’. The firm advised in relation to the tender to award a PPP sub-concession to develop a fuel hydrant system at Cyprus’ Larnaka Airport, acting for the airport company.
SNR Denton’s team, led by Matthew Jones, has a longstanding reputation for transport work along with strength in Middle East power and infrastructure projects. In line with its pre-eminent roads practice, the firm advised the lenders to Amey Ventures in relation to the £2.8bn Birmingham Highways Maintenance PFI.
Michael O’Connor’s team at Addleshaw Goddard LLP saw the departure of Richard Guit in 2010, but welcomed the arrival of legal director Roger Clayson from the Nuclear Decommissioning Authority (NDA). Waste is a prolific area for the firm; it recently advised Biogen Greenfinch on five food waste treatment procurements.
Berwin Leighton Paisner LLP ‘focuses on key points to deliver practical advice’, with Jim Buchanan valued for his ‘ability to rapidly identify issues and develop pragmatic solutions’. Defence, development and transport are key areas, with recent work including advising Ascent on the UK Military Flight Training System PPP.
Eversheds LLP’s team, led by Michael Grimes, garners a steady flow of high-profile domestic projects, but is also increasingly involved in international work. The firm advised Staffordshire County Council on a £1bn waste PFI with Veolia Environmental Services.
In 2010, Pinsent Masons LLP welcomed the arrival of Daniel Tain from Shadbolt. They bolster a ‘committed team’ led by waste specialist Simon Mumford, and including the ‘very experienced’ Barry Francis. The firm is advising Veolia on the Staffordshire Waste PFI.
Simmons & Simmons is a ‘trusted adviser’ and provides an ‘excellent level of service’, with areas of specialism including defence work. Juliet Reingold advised the Ministry of Defence on the £12bn Defence Training Review PFI project. Richard Dyton is an ‘innovative thinker’.
Domestically, Trowers & Hamlins LLP is known for public sector work, where it is considered ‘best in breed’. Internationally, it has an extensive Middle East network that ensures a varied diet of complex pathfinder PPPs. Highlights included advising Essex County Council on its £1bn BSF project.
White & Case LLP ‘competes against top-end firms effectively’ under Anthony Fine, who is commended for his ‘great work ethic’. It notably advised Mafraq Motorway Group on a tender for the $2.5bn development of the motorway section between Mafraq and Ghweifat in the UAE. Simela Karasavidis ‘manages difficult situations with the lightest touch’.
Wragge & Co LLP is valued for its ‘partner-led service’, and ‘top-tier quality provided by a friendly team’. In a headline deal, Stephen Kenny’s group advised Amey on the £2.8bn Birmingham Highways PFI, the largest-ever local government highways PFI.
Baker & McKenzie LLP advised the consortium on the financing of the redevelopment of a hospital in Bermuda, notable as Bermuda’s first-ever PPP. Calvin Walker is ‘quick to see the commercial ramifications of proposals’.
Bevan Brittan LLP’s Sharon Renouf is ‘very approachable’. Traditionally strong in public sector work, the firm also has a solid private sector client base, and advised Aviva on the funding of phase four of Lewisham’s BSF programme.
Burges Salmon LLP’s team is led by Mark Paterson, and excels in nuclear, defence and public sector work. Among the firm’s recent transactions, it continues to advise the Minstry of Defence on the £6bn Search and Rescue Helicopter Services PFI.
In 2010, Fulbright & Jaworski International LLP utilised its London experience to advise on PPP matters in the US: The firm advised Meridiam Infrastructure on The Long Beach Court Building PPP, notable as the first non-transport PPP in California.
Hunton & Williams’ practice is winning a high volume of deals from Eastern Europe. It is representing the government of the Republic of Srpska, Bosnia & Herzegovina on its €3.5bn motorway project.
McGrigors LLP is valued for its ‘good commercial understanding’, and for the consistent quality of its team. Adrian Eakin’s group advised on a series of BSF, LIFT and regeneration projects in 2010.
Mills & Reeve LLP’s team head Raith Pickup is valued for ‘working as part of the team with no airs and graces’. The Minstry of Defence is a trophy client; the firm is currently advising it on two contracts for the long-term maintenance of engines for the Eurofighter and Tornado aircraft.
Nabarro LLP’s Stephen Matthew gives ‘clear, concise advice’, and has a ‘commercial appreciation of the issues’. The firm is acting for Wandsworth Borough Council on its £300m BSF project and the separate delivery of the Bolingbroke Free School.
Bird & Bird’s focus is almost exclusively defence and outsourcing matters. The firm advised BAE Systems on the refurbishment and outsourcing of military air traffic control in the UK.
Capsticks ‘adds value to a deal through its unequalled knowledge of the health industry’. In 2010, the firm was busy advising health sector clients on variations to PFI arrangements, as well as handling new NHS LIFT schemes.
Clyde & Co LLP ‘focuses on the key issues’, with Liz Jenkins and Robert Meakin recommended on the construction side of PFI projects. Clients include Kier Regional, Galliford Try and Skanska.
Devonshires is strong on the housing and health side. In 2010, the team completed a share purchase on behalf of two registered providers relating to an existing PFI project.
Andrew Renton’s team at Dundas & Wilson LLP is ‘responsive and easy to work with’. It advised Tay Valley Lighting on a £78m street lighting project.
Midlands-based Freeth Cartwright LLP advised Stockport Health Enterprises on Phase 2 of its project to build a range of new polyclinic health facilities.
Greenberg Traurig Maher LLP acted on several substantial PFIs, in the transport, energy and housing sectors. Frank Patalong is the main contact.
K&L Gates’ Cathy Harris is ‘fantastic at client relations’. The firm is advising Laing O’Rourke on the £270m Barking & Dagenham BSF project.
Osborne Clarke’s team is led by Chris Wade, and recently advised Campus Living Villages as sponsor on the Bedfordshire university accommodation project.
Speechly Bircham LLP advised Higgins Group on the construction of the Myatts Field Social Housing PFI.
Squire Sanders Hammonds’ team has ‘expertise across all relevant areas including projects, banking, construction and public law’. The firm is advising West Wiltshire District Council on its £76m non-HRA Social Housing PFI project.
Stephenson Harwood is advising UK Power Networks Services on the concession contract for the implementation of an electricity distribution system for the London 2012 Olympic Park.
Walker Morris advises on a broad array of waste, education and housing projects. In 2010 it was appointed to the Legal Services Framework Panel for the Consortium of London Boroughs.
Winckworth Sherwood is known for its housing practice, under team head Andrea Squires.