CMS is sought after for its excellence in cross-border financial transactions, particularly in project finance, fund financing, real estate financing, and derivatives work. Practice head Gordon Hay is noted for his project finance specialisation, regularly acting for banks and borrowers. Stephen Phillips predominantly advises on receivables, derivatives and securitisations. Jenny Allan excels in energy financing work, and Alan Fulton is an expert in real estate finance and acquisition finance transactions. Caryn Miller is a key point of call for lenders and borrowers in all areas of corporate, acquisition and development finance. John Waller joined in June 2025.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- ‘The team is responsive and delivers as required when asked - dependable and consistent.’
- ‘Alan Fulton is our primary relationship. He is excellent to work with. His client care is exceptional, transactions move very smoothly, and he manages a lot of the process without ever making it seem like there are any hurdles. Alan is also commercially very astute.'
- ‘Consistent high quality of work, responsive to queries and turning around documents timeously, always willing to take a pragmatic and commercial approach to solving problems.’
- ‘Caryn Miller - hugely experienced, always willing to give practical advice and answer questions. Excellent at dealing with complex issues.'
- ‘The team is very responsive and the advice provided is always delivered pragmatically, ensuring that it can be applied and shared easily with clients and other transaction stakeholders, which is crucial to ensuring the transactions run smoothly.’
- ‘Gordon Hay is a key contact who ensures high service standards are maintained. Gordon is always just a phone call away.'
Key clients
- Albo Holding Limited
- aosphere Limited
- Citigroup Global Markets Limited
- Close Leasing Limited
- Hokodo
- Macfarlane Group plc
- Santander
- UK Grid Services Limited
- Venterra Limited
Work highlights
Advised a syndicate of three lenders on the provision of a credit facility to a subsidiary of Quinbrook Infrastructure Partners to fund the development of a portfolio of 5 synchronous condenser plants across the UK.
Advised Venterra Limited on its debt facilities from a syndicate of banks to assist with its global expansion, including its latest acquisition of Oceanscan Holdings Limited.
Advised Close Leasing Limited on lending to YLEM Energy Group for the provision of a portfolio of flexible power generation sites across the UK.
Lawyers
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Leading associates
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Practice head
Gordon Hay
Other key lawyers
Stephen Phillips; Jenny Allan; Alan Fulton; Caryn Miller; John Waller