Ashurst advised Safanad S.A., a global investment firm, on its 50/50 joint venture with US private equity firm Formation Capital in relation to the £477 million acquisition of NHP, a property company that owns 277 nursing and residential care homes in the UK, including the UK's third largest care provider HC-One. The deal brings total recoveries to creditors of £507 million over the last five years, as NHP has sought to realise value for its lenders through the sales of assets.

The Ashurst team was led by corporate partner David Carter, assisted associate Vitaly Shmakov. Real estate finance partners Sarah Watkinson and Ruth Harris advised on the property aspects of the transaction. Investment funds partner Jeremy Bell also advised.