Cuatrecasas has advised Arcano Capital on the launch, together with Bluefield Partners, of a co-investment vehicle foused on Italian solar assets
Bluefield Partners LLP, a UK based investment adviser, and Arcano Capital, SGIIC, S.A.U, have announced the launch of an Italian Co-Investment “special situation” vehicle, focused on Italian operational solar assets. The vehicle, Bluefield Revive Italia I Srl (the Italian holding), will target the acquisition of solar energy assets located in Italy with technical, financial or operational underperformance, with the aim of performing turnaround activities on the assets.
The vehicle will be advised by the Bluefield Group, with its Italian service companies providing asset management and advisory services. Their technical, financial and operational expertise will be used to implement the vehicle’s investment strategy and enhance the operational capacity of distressed assets.
The vehicle was founded by Bluefield Revive Solar SCSp and Arcblue Solar, SICC, S.A. Bluefield Revive Solar SCSp is a Luxembourg Alternative Investment Fund (AIF) funded by professional and institutional investors, sponsored by the London based investment adviser Bluefield Partners LLP and managed by its general partner Bluefield Lux GP S.à r.l.
Arcblue Solar, SICC, S.A is a Spanish special co-investment vehicle sponsored by Arcano Earth Fund, FCR and some of its LPs, managed by Arcano Capital SGIIC S.A.U., Arcano Partners´ management company.
Bluefield was assisted by Osborne Clarke Italy in the negotiation of the investment and shareholders agreement with Arcano and in the setting up of the Italian holding and corporate structure and by Mazars Italy for Tax aspects in relation to the Italian structuring.
Arcano was assisted by Cuatrecasas in the negotiation of the investment and shareholders agreement with Bluefield and for the establishment of the investment platform in Spain, with a team made up of partners Jorge Canta (pictured left), Paz Irazusta (pictured top right) and Carlos Ferrer Haro (pictured bottom right), together with lawyers Carlos Posadas, Ana Serrano and Mariano Núñez.