A team of eight lawyers from international law firm DAC Beachcroft has advised the Finance Wales Group on a number of new funds, which have closed in the past month. The firm was appointed to Finance Wales’ panel of legal advisers in 2012.

DAC Beachcroft advised Finance Wales on the tendering process for the management of the Welsh Government’s new Wales Life Sciences Fund as well as on the contractual arrangements put in place with Arthurian Life Sciences, which won the tender to manage the £100 million fund.

The firm also advised Finance Wales when FW Capital was appointed to manage increased funds following North West Business Finance’s recent reorganisation of The North West Fund for Development Capital. FW Capital is a subsidiary of Finance Wales and has been managing the £35 million North West Fund for Business Loans since its launch in 2010.

DAC Beachcroft’s specialist team, including London-based James MacNish Porter (Partner, Financial Institutions) and Barry Stimpson (Partner, Head of Funds), has now closed five funds in the space of five months. The team also includes Alex Von Westernhagen (Associate, Procurement), Christine Jenner (Partner, Employment) and David Paterson (Solicitor, Banking).

Peter Wright, Group Investment Director at Finance Wales, said: “A substantial amount of new investment capital has been made available to SMEs thanks to these funds. Finance Wales relies on high-quality advice from its legal advisers and we’re pleased to have worked with the DAC Beachcroft team on this occasion to put the necessary arrangements in place.”

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