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Milton Osborn | Head of Funds | South Africa

Milton Osborn

Partner
Head of Funds

CMS RM Partners
85 Grayston Drive
5th Floor
Sandton, 2196
Johannesburg, Gauteng
South Africa
Languages English

Milton is a corporate, funds and banking and finance lawyer with previous experience at international law firms in South Africa, the United Kingdom and China.

Milton has broad experience advising financial institutions and sponsors, in relation to acquisition finance, cross-border finance, private equity, structured finance, debt capital markets, derivatives, hedge funds, high yield debt, and securitisation.  
Milton has funds experience and has advised both GPs and LPs in relation to the establishment of domestic and international funds and has assisted clients with the full spectrum of private investment funds, all major investment strategies and all stages of a private investment fund's life cycle including:

  • fund structuring and establishment 
  • investment reviews  
  • management and advisory arrangements 
  • platform and product design 
  • secondary transactions, restructurings and exits 

Milton was admitted as an Attorney in South Africa in 1997 and as a Solicitor in England and Wales in 2003 and has previously worked as senior counsel in the private equity practice of O'Melveny & Myers, London where he acted for private equity funds, sovereign wealth funds and hedge funds on various capital market, structured finance, acquisitions and private equity related transactions. He has experience in the European, Asian and African markets.

Milton was a partner in the Beijing office of Norton Rose Fulbright LLP where he assisted Chinese State Owned Enterprises and financial institutions with their outbound investment strategy, particularly relating to cross-border transactions into Africa and Europe. 

He was recently recognised by Best Lawyers for Private Equity & Funds, South Africa, 2020. 

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He is a strong structurer and problem solver. Able to move a transaction forward and is very commercial.

Managing DIrector | A leading African construction, concessions and manufacturing group

Relevant experience

South Africa

  • SICAV-RAIF (SCSp) a Luxembourg based fund - in relation to regulatory advice on the  marketing of the Luxembourg investment fund to investors in South Africa.
  • Afrika Tikkun - in relation to establishing a ManCo structure for the current and future investment assets.
  • Swakula - on the establishment of a domestic fintech fund focused on early stage investment in disruptive African financial technology businesses.
  • A number of sector focused fund managers - in relation to setting up numerous funds in terms of Section 12J  of the Income Tax Act. 
  • A South African Bank - to the establishment of yield fund through Mauritius and ongoing structuring and tax advice in relation to the fund.
  • China Development Bank - in connection with USD200 million bridge loans to Wesizwe Platinum Limited in relation to the development of the Bakubung Investments’ Project forming part of their USD650 million financing.
  • China Development Bank - in connection special facility of up to USD100 million provided by China Development Bank Corporation to Industrial Development Corporation of South Africa Limited for the development of South African small and medium sized enterprises. 

Cross - border Africa

  • A number of local and international financial service companies - in relation to Mauritian based funds. 
  • China Development Bank - in connection with a senior credit facility of €450 million to be provided by Corporation to Jazztel Netherlands B.V. in support of the construction of the jointed roll out of fiber-to-the-home (FTTH) networks in Spain. The facility is supported by a guarantee which is provided by Jazztel P.L.C. and Jazz Telecom S.A.U and a non-possesory pledge over the network assets as well as the charge over the revenue account of the Borrower opened in Hongkong.
  • A Chinese consortium - made up of Industrial Commercial Bank of China Limited, China Development Bank Corporation and China Construction Bank in relation to a senior term loan of up to USD300 million to be provided to MTN Nigeria to finance up to 85% of the purchases or procurement of telecommunication equipment and services by MTN Nigeria from Huawei and ZTE.
  • China Development Bank - in connection with a special facility agreement for up to USD30  million for the development of small and medium sized enterprises in Zambia where the facility is be provided by China Development Bank Corporation to the Development Bank of Zambia (DBZ) and DBZ will on-lend the proceeds of the facility to small and medium sized enterprises in Zambia. The facility is supported by a guarantee which is provided by the Minister of Finance of the Republic of Zambia. 
  • China Development Bank Corporation - in relation to its participation of a USD575 million tranched 5-year amortising term loan facilities for The United Republic of Tanzania as Borrower for the development of infrastructure projects arranged by Credit Suisse.
  • Industrial and Commercial Bank of China Limited (ICBC) - as to a buyer credit facility of up to USD115 million to be provided by ICBC to the Ministry of Finance of the Republic of Angola as borrower in support of purchase of Howo 6x4 tractor trucks and other equipment by Casa Militar from Sinotruk Import & Export supported by an export insurance policy provided by Sinosure.  
  • Industrial and Commercial Bank of China Limited (ICBC) - as to a buyer credit facility of up to USD59 million to be provided by the ICBC to the Ministry of Finance of the Republic of Angola as borrower in support of the construction of the 220KV Circuit and Biopio 220KV substation, the South Benguela 220/60/30KV substation and the construction of transportation infrastructure between Lomaum hydropower station and Cubal by Ministério da Energia e Águas Da República de Angola  and Guangxi Hydroelectric Construction Bureau supported by an export insurance policy provided by Sinosure.  
  • A listed South African mining entity - on the acquisition and financing of an acquisition with major concessions in both Zambia and the Democratic Republic of Congo. 
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Education

  • 1993  – LL.B, University of Natal, South Africa.  
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Memberships

  • Member of the Legal Practice Council 
  • Solicitor, England & Wales
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7 October 2019
CMS ex­pands in Africa
South Afric­an and Kenyan law firms ad­ded to CMS’s glob­al...
June 2019
CMS Funds Glob­al Bro­chure
June 2019
CMS Private Equity Glob­al Bro­chure

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18 Jun 20
Sec­tion 12J VCC We­bin­ar
The we­bin­ar will com­prise of in­form­at­ive present­a­tions...