Norton Rose picks up Star Capital Partners’ SMIF sale

Norton Rose has secured a third mammoth deal in four months for Star Capital Partners, cementing the firm’s relationship with the investment fund management group.

The firm is advising Star and co-investors HBOS and AMP Capital Investors on the £927m sale of Secondary Market Infrastructure Fund (SMIF) to Land Securities Trillium. The deal is expected to complete next month (February).

SMIF is one of Europe’s largest investment and management groups, with around £4bn worth of gross assets under management.

The deal follows two successful disposals by Star, which Norton Rose also advised on. These were the SFr1.6bn (£668.9m) sale of its investment in SR Technics and the E300m (£202.67m) sale of its investment in BUS Group last September and October respectively.

Norton Rose head of private equity David Baylis, who led the firm’s advice, said: “We’re currently working on another deal for Star which should be completed in the next two to three weeks and look forward to advising on future investments and sales.”

Land Securities Trillium was advised by Berwin Leighton Paisner, led by partner Franc Pena. Lovells, led by corporate partner Phillip Brown and tax partner Kevin Ashman, advised SMIF’s management and provided vendor due diligence.