Herbert Smith Freehills has advised the Clean Energy Finance Corporation (CEFC) on its A$80 million equity investment in the Pacific Equity Partners’ (PEP) Secure Assets Fund II (SAF II), which will target value-add mid-market infrastructure and infrastructure-like businesses.
SAF ll will work with investee companies to understand their carbon footprint and identify decarbonisation pathways in line with reducing scope 1 and 2 emissions by 50 per cent by 2030 – and to set targets for net zero scope 1 and 2 emissions by 2040.
The Herbert Smith Freehills funds team comprised partner Fiona Smedley, Special Counsel Yorick Ng, and Senior Associate Adam Hickey, supported by the real estate team of Nicholas Cowie (Partner), Alexander Brand (Solicitor), Arthur Hancock (Solicitor) and the construction team comprising Margaret Mertens (Executive Counsel) and Frances del Rosario (Solicitor).
Fiona Smedley said, “We are so proud to have worked with the CEFC on this matter and of the CEFC’s ongoing leadership in driving emissions reduction.”
Yorick Ng added, “Congratulations to the CEFC on this important investment, which marks yet another success for the CEFC to help transition towards a more sustainable, lower carbon economy”.
Members of this Herbert Smith Freehills team has advised the CEFC across a range of equity investments, including the Mirvac build-to-rent venture, Adamantem’s Environmental Opportunities Fund, Macquarie Infrastructure and Real Asset’s infrastructure platform, the Australian Renewables Income Fund, the Morrison & Co Growth Infrastructure Fund, the transforming farming platform managed by Gunn Agri Partners, the Investa Commercial Property Fund and the Mirvac Wholesale Office Fund.