Portfolio acquisition
Led the financial modelling process for joint venture equity investors on the £245m acquisition of a 4,539 bed portfolio of purpose built student accommodation from the administrator. Managed the analytical process to successfully complete a £210m index-linked and fixed bond with a 50-year maturity, a first in the sector.
Sponsor financial advisory
Led financial advisory services to joint venture partners during the competitive dialogue process and successful financial close of a £50m student accommodation project in partnership with a leading London university. The project consisted of the refurbishment of existing rooms along with the development of new rooms and was funded by a £40m bond with a retained element that was drawn more than a year later, once planning permission had been approved.
Property fund model
Built the financial model for a new Jersey private fund of over 50 properties and a combined value in excess of £1bn. The financial model was used for a variety of purposes such as internal cash flow management, equity valuation, scenario analysis, funder ratio compliance and the evaluation of various refinancing options.
University financial advisory
Led financial advisory services to a top-10 ranked university on their £95m student accommodation project for 1,000 new rooms, and also to another leading university on their £200m project for 3,000 rooms. Advised each university on their procurement strategy, scoping of documents, dialogue meetings, scoring and evaluation, financial modelling and selection of preferred bidder. Managed the process through to financial close on the bonds with wrapped and unwrapped funding solutions.
Financial analysis for rating
Managed the financial modelling process for joint venture investors through the first rating of a direct-let purpose built student accommodation project. Liaised with the rating agency and bond arranger to understand the rating methodology and then created a debt structure with the robustness to achieve the rating required under various stress scenarios, to satisfy the funder on the £200m facility.
Financial strategy
Led the strategic financial advice to a top-5 ranked university on the options available for the development of student accommodation within their overall estates strategy. Worked closely with the university team and legal advisors to analyse the financial costs and benefits of each option and presented these to the executive team and Board of Governors.
Portfolio refinancing
Led the financial modelling services to support the long-term restructuring strategy of an infrastructure portfolio with a combined value in excess of £500m. This involved multiple refinancings through negotiations with existing lenders, short-term warehousing of projects and arranging new long-term financing and derivatives during the global financial crisis.
Infrastructure fund model
Designed and built a portfolio financial model for a leading private equity specialist infrastructure fund with a value in excess of £1bn. The model standardised cash flows from underlying projects and consolidated cash flows at fund level in order to calculate fees and returns for both general and limited partners.
Business planning
Built various financial models for clients to support business planning, viability and options appraisals for both start-ups and existing businesses. The robustness of the financial modelling and ability to run accurate scenarios and sensitivities provided significant comfort to business owners, banks and investors.
Financial Planning & Analysis
Designed and implemented an internal budgeting and reforecasting process for a global PLC in the telecoms industry. This significantly improved the accuracy of internal reporting and also reduced the timetable and human resource requirements.
Business valuation
Reviewed financial reports to understand an existing business and built a financial model to forecast cash flows and derive a valuation for an acquisition. Continued to work with the buyer to understand the future plans for the business and overlayed these assumptions into the financial model to forecast enhanced cash flows and the potential to add value post acquisition.
Legal dispute analysis
Built a financial model for lawyers and also presented the financial analysis in a dispute resolution. The financial model was a simplified version of a larger financial model for a £400m power station, with various complex commercial off-take arrangements, and resulted in a successful outcome for the company.