CMS advises on trio of listed investment company fundraisings

International law firm CMS has advised on three fundraisings, raising over £300 million for listed investment companies.

The firm represented:

• Supermarket Income REIT, which invests in supermarket property and forms a key part of the future model of UK grocery, on raising £153 million in a placing and public offer. 
• Specialist infrastructure debt investor Sequoia Economic Infrastructure Income Fund on raising £110 million in a placing. 
• Specialist warehouse investor Warehouse REIT on raising £46 million in a placing. 

In each case, the fundraisings are intended to be, or have been, used to enable the funds to increase their portfolios through new investments. 

Commenting on the three deals, CMS Head of ECM Alasdair Steele said: “As the economy looks to recover from the effects of the past year, investment companies continue to offer investors attractive opportunities. This is demonstrated by both these three deals and by our strong pipeline of new listed fund launches and fundraisings for existing listed funds. Our highly regarded Listed Funds team looks forward to helping many of these funds with their plans.” 

The Supermarket Income REIT team advising Stifel as sole bookrunner was led by Corporate partners Iain Newman and Charles Howarth, assisted by associates Sophie Curran and Hannah Brash.  

Head of ECM Alasdair Steele led the team advising Sequoia Economic Infrastructure Income Fund assisted by US Counsel David Rivera, senior associate Harriet Serpis, associate Brett Mendonca and trainee Georgia Cherry.

Corporate partner Jack Shepherd led the team advising Peel Hunt as sole bookrunner on the placing for Warehouse REIT, assisted by senior associate Kate Darracott and associate Sarah Kensell.