Ashurst advised Oriel Securities as the bookrunners and sponsors on a follow on fundraising for Foresight Solar Fund ("Foresight" or the "Company"), the UK-based closed-ended investment company which listed on the LSE last year. The company raised £60.1 million in gross proceeds via an initial placing and offer for subscription on the London Stock Exchange's Main Market and has also created a placing programme of further shares over the next year.

Foresight will have a total of 208 million shares in issue upon admission to trading, expected to be on 22 October 2014, giving the company a market capitalisation of £214.2 million.

Foresight's investment objective is to acquire a portfolio of ground-based, operational solar power plants predominantly in the UK. It is managed by a team from Foresight Group, an infrastructure and private equity investment management firm.

The Ashurst team was led by corporate partner Nicholas Holmes, assisted by senior associates Karin Kirschner and Yoana Yoshovska.