International law firm Proskauer Rose has formed a specialist infrastructure advisory group in response to the importance placed on infrastructure by the US government.
The predominantly US-focused firm says it will combine the expertise of lawyers around the world to better address the public, private, financial and legal aspects of global infrastructure projects. The new unit will work on infrastructure mergers and acquisitions, investment funds, capital markets and real estate.
“The policy goals of the Obama administration and an emphasis on infrastructure projects around the world, was the impetus for the firm to organise its capabilities in one group,” the firm said.
Proskauer has provided legal assistance to a range of private infrastructure investors, including the Ontario Teachers’ Pension Plan, UK venture firm Abingworth Management and US private equity firm Sterling Capital Partners.
The firm is also active in private equity fund formation. It has been openly critical of President Obama's proposals for new laws which would increase the tax rate on carried interest for private equity funds and enforce the tax registration of some investment advisors. In February Timothy Clark, a partner in Proskauer Rose's private equity practice, said he hoped US legislators “can be educated as to why some of this [Obama’s proposals] would be extraordinarily damaging to our industries.”