HSF takes on $75m green investment deal

Herbert Smith Freehills (HSF) has advised the Clean Energy Finance Corporation on a $75m equity investment deal in the Macquarie Pastoral fund.

The investment supports the reduction of methane intensity in the agricultural sector by at least 30% by 2030. To reach this goal, CEFC intends for Macquarie-owned Paraway Pastoral Company to invest in new technologies and practices to reduce emissions as the fund manager. Progress will be shared with industry stakeholders.

HSF partner Fiona Smedley and special counsel Yorick Ng assisted CEFC on the transaction.

“We are proud to continue supporting the CEFC in undertaking its important clean energy investment work, this time in the agricultural sector – a sector which contributes to a significant proportion of Australia’s emissions,” Smedley said. “This investment adds to the growing pool of institutional investments we are seeing that are driving innovation and leadership in sustainable and energy-efficient practices.”

The Macquarie Pastoral fund is the latest of many equity investments the firm has advised CEFC on. Earlier ones include a transforming farming platform managed by Gunn Agri Partners, Adamantem’s private equity fund, Mirvac’s build-to-rent club, the Australian Renewables Income Fund, and the Ellerston 2050 fund.