A counsel or a counsellor at a law firm is a person who gives advice and deals with various issues, particularly in legal matters. It is a title often used interchangeably with the title of lawyer. The word counsel can also mean advice given outside of the context of the legal profession.
Magnetar Capital is a hedge fund based in Evanston, Illinois. The firm was founded in 2005 and invests in fixed income, energy, quantitative and event-driven strategies. The firm was actively involved in the collateralised debt obligation market during the 2006–2007 period.
Eversheds Sutherland is pleased to announce that it represented alternative asset manager Magnetar Capital in the acquisition of international property and investment group Lendlease’s renewable energy business unit, which will operate under the name Vesper Energy moving forward.
Since its start in 2015, Vesper Energy has commercialised over 680 MW of utility-scale solar projects in the United States. Working closely with communities and customers, the company develops, builds and operates high-quality, high value assets that contribute to a sustainable, decarbonised electrical grid.
Its current customers include municipalities, higher education institutions, large corporations and integrated electric utilities.
Vesper Energy has an existing 3 GW solar and 2.5 GWh energy storage development pipeline across the United States, encompassing 20 unique projects. The company plans to begin construction on three new projects in 2021 in California, Ohio and Pennsylvania.
“We are excited to extend Magnetar’s existing renewables franchise into the rapidly growing utility-scale solar and storage market in North America,” said Adam Daley, co-head of Energy and Infrastructure at Magnetar.
“This investment complements our existing solar portfolio companies and reflects our continued commitment to providing growth capital to businesses actively reducing carbon emissions.”
Eversheds Sutherland is a global multinational law practice created by a combination of law firms Eversheds LLP and Sutherland Asbill & Brennan LLP, in February 2017, and is one of the 50 largest law practices in the world.
Eversheds Partner Thomas H. Warren led the deal team.