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Law Firm Counsels Magnetar Capital on Acquisition

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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.

Accenture Acquires Global Advisory Firm

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Accenture has acquired Parker Fitzgerald, a strategic advisor and consulting partner to leading global financial institutions, further enhancing the business and technology capabilities within its Finance and Risk practice. Terms of the transaction were not disclosed.

Accenture plc is an Ireland-based multinational professional services company that specialises in information technology services and consulting. A Fortune Global 500 company, it reported revenues of $50.53 billion in 2021.

Founded in 2008 in response to the global financial crisis, Parker Fitzgerald advises financial services companies on financial and non-financial risk, regulation and financial technology. The firm provides strategic advice, independent assurance and market-leading solutions to help clients navigate risks, reduce operational complexity and improve their overall risk-adjusted performance.

Parker Fitzgerald’s advisory and assurance expertise and regulatory experience will complement Accenture’s consulting and technology capabilities and strengthen Accenture’s client response to the evolving risk landscape in financial services.

“Financial services companies continue to contend with the impact of economic and geopolitical uncertainties, regulatory challenges and digital transformation,” said Tara Brady, who leads Accenture’s Financial Services practice in the United Kingdom.

“Parker Fitzgerald has a successful track record helping clients navigate ever-increasing disruption and uncertainty, and the combination of their risk advisory and assurance expertise with Accenture’s consulting and digital capabilities will be a strong differentiator, enhancing our services to United Kingdom financial institutions.”

Accenture Overview

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations.

Combining unmatched experience and specialised skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders.

With 482000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives.