Ashurst has advised HSBC and Numis Securities in their capacity as joint bookrunners in connection with a placing of new A ordinary shares in the capital of Sherborne Investors (Guernsey) B Limited (the "Company"), raising gross proceeds of £100 million.

The issue comprised a placing of 106,951,871 shares at 93.5 pence per share, representing approximately 51.7 per cent of the Company's issued share capital immediately prior to the placing. The net proceeds of the placing, estimated to be approximately £98.4 million, will be used to repay the outstanding borrowings of SIGB, LP, the entity through which the Company holds its investment in Electra Private Equity plc (the current "Selected Target Company") and, if appropriate, to make further investments in securities of the current Selected Target Company.

The Ashurst team was led by corporate partner Nicholas Holmes, assisted by senior associate Simon Bullock and solicitor Shari Taylor. Senior associate Jeffrey Johnson advised on US aspects of the placing. Corporate counsel Caroline Chambers also advised.