O'Melveny Advises Hermes Private Equity on Environmental Innovation FundDecember 22, 2009
FOR IMMEDIATE RELEASE
O'Melveny & Myers LLP
O'Melveny & Myers LLP
LONDON -- DECEMBER 22, 2009 -- O’Melveny is advising Hermes Private Equity (HPE), one of two fund of fund managers chosen by the UK Government as part of the UK Innovation Investment Fund, on its HPE Environmental Innovation Fund (HEIF).
The key focus of the Fund will be on investment opportunities aimed at reducing the environmental impact of human activity on the earth by increasing the efficient use of recourses (both renewable and non renewable) at all stages of production and consumption. The Fund will particularly focus on pooled investment funds that invest in UK opportunities. HEIF will provide investors with the opportunity to invest in both funds and co-investments in businesses with high growth potential, primarily focusing on the environmental sector.
“We are excited to be working with Hermes on this new venture,” said John Daghlian, managing partner of O’Melveny’s London office and head of the Firm’s Investment Funds and Securitisation Practice.
“Increased interest in the environment and Climate Change Policy presents an opportunity to capitalise on this interest to the benefit of private investors, the tax payer and the environmental companies we will invest in,” said Susan Flynn, CEO of Hermes Private Equity. “With the current financial crisis there are many good companies who may not have funding available to them. The HPE Environmental Innovation Fund will ensure that those seeking finance for promising new environmental ventures will have access to a national source of funding.”
O’Melveny’s HPE team is led by London counsel Lewis Chong with assistance from partner John Daghlian and associate Eve Ellis.
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