Camerons to raise £5m through partner cash call

Partners at CMS Cameron McKenna have been asked to contribute an extra £1,000 per equity point as part of a capital increase approved at last month’s partner meeting.

The cash call is expected to raise some £5m, assuming a median average of 50 points for each of the 102 partners.

In a statement, the firm said: “In November 2007, the partners voted to increase the level of permanent capital to be drawn down in two instalments – one in early 2008 and the balance at a later date. Partners agreed to this second instalment being called now as the appropriate time in terms of managing our balance sheet.

“As there’s a small increase in the amount agreed to in 2007 a vote was necessary. This was approved by the partnership last week and brings our capital contributions in line with our peers.”