Ashurst advised Equitix on the establishment of co-investment structures which, alongside Equitix Fund IV (Equitix's fourth core infrastructure fund) and other consortium members, acquired 100% of the stake held by Skanska and Atkins in the M25 orbital motorway network.

The stake acquired is approximately 220km of the M25, along with an additional 220km of connecting motorway and trunk roads, and includes more than 140,000 assets, 1,800 structures (including 750 bridges), five tunnels and a cable-stayed bridge at Dartford. Connect Plus is responsible for the operation, maintenance and lifecycle works.

Nick Goddard, investment funds partner, led an international Ashurst team, which involved specialist lawyers from Ashurst's London, New York and Washington offices. The team included partners Jake Green and Margaret Sheehan (regulatory/securities law), Tae Jeon (finance/ERISA), counsel Alastair Ladkin (tax) and associates Elisha Rai (funds) and Greg Patton (regulatory).