Warsaw team advises fund managed by Sienna Private Credit on a holdco financing

Global law firm Norton Rose Fulbright advised Sienna Private Credit on a holdco financing provided to a Polish borrower in relation to construction of a 35 MW wind farm in Poland. The construction of this wind farm is also financed by PKO Bank Polski as senior lender.

Sienna Private Credit provides investment products and solutions that meet the expectations of large institutional investors. Its initiatives focus on real assets and direct loans to the economy and cover, with €2.5 billion of assets under management, four main themes: corporate real estate, infrastructure in the energy sector, specialized financing of industrial companies and the public sector.

Since 2022, Sienna Private Credit is an entity of Sienna Investment Managers, the asset management company of the publicly-traded investment holding company GBL (“Groupe Bruxelles Lambert”). With 280 professionals, Sienna is present in Luxembourg, London, Paris, Hamburg, Madrid, Amsterdam, Zurich and Seoul. With extensive experience in asset management, Sienna now invests on behalf of third parties. Sienna oversees over €30 billion as of September 2022 on behalf of its shareholder GBL as well as institutional clients, mainly through real estate assets (Sienna Real Estate), private debt (Sienna Private Credit), investments in private and public market funds (Sienna Gestion) as well as through direct equity investments in unlisted companies (Sienna Private Equity, and Sienna Venture Capital) or PE Fund of Funds (Sienna Multi-Manager Private Equity).

The Warsaw team was led by partner Tomasz Rogalski, associate Karolina Majcher and senior associate Cezary Zawiślak. Partner Tomasz Rogalski, associates Karolina Majcher, Igor Kondratowicz and Przemysław Piasecki advised on finance aspects of the transaction. Partner Tomasz Rogalski, senior associate Cezary Zawiślak and lawyer Jakub Chmiel advised on legal due diligence aspects. The entire Norton Rose Fulbright team worked under the supervision of partner Tomasz Rogalski, who heads the firm’s Warsaw energy and infrastructure practice.

Tomasz Rogalski commented:

“We are thrilled to have assisted Sienna Private Credit on its first renewable energy financing in the Polish market. Sienna’s presence on the Polish market underlines confidence of the private credit funds in quality of the Polish onshore wind and PV assets.”

Sienna Private Credit team included Philippe Garrel, Ronald Gaultier, Romain Vélon and Hannah Cocos.