Part 2
The OpCo seed, the PropCo programmatic joint venture and the debt programme, each of them led by Fidra end to end from the first approach through to funds flow.
Retainer per month, to be agreed · completion fees on each close
27 service lines across 4 sections
Executive Summary
Part 2 takes the outputs of the sprint to market, with the OpCo seed capitalising the platform and appointing the founding team while the PropCo programme secures an anchor institution and closes Tranche 1 against the first assets.
The debt programme runs in parallel, establishing the green and sustainability linked financing framework and closing the first facilities through to drawdown.
Throughout this period Fidra runs the process itself, managing outreach, meetings, the investor tracker, diligence, negotiation and counsel coordination, supported by weekly raise reporting and monthly board updates.
Scope of Services
2A
10 lines
Finalisation of the launch pack with version control thereafter.
Launch packSequenced outreach across the qualified target list.
Outreach programmeManagement of the meeting programme with preparation notes.
Meeting programmeMaintenance of the investor tracker across status, feedback and follow up.
Investor trackerAnalysis and negotiation of term sheet valuation, preference and conversion terms.
Term analysisNegotiation of governance, information rights and founder protections.
ProtectionsManagement of investor due diligence with a responses and disclosure log.
Diligence logCoordination of counsel through to completion and funds received.
CompletionPreparation of role specifications for chief executive, chief financial officer and head of membership.
Role specificationsManagement of the retained search with structured candidate assessment and references.
Appointments2B
8 lines
Ranking and approach sequencing of the anchor shortlist across Canadian pension and life institutions, United States institutions and sovereign investors.
Anchor shortlistPreparation of the PropCo information memorandum in full.
Information memorandumPreparation of the programme underwriting model on consistent assumptions.
Programme modelNegotiation of joint venture heads of terms.
Heads of termsNegotiation of joint venture economics, the distribution waterfall and governance.
JV economicsNegotiation of pipeline exclusivity, step in rights and key person provisions.
Protective provisionsManagement of Tranche 1 subscription, conditions and funds flow to completion.
Tranche 1 closeStructuring of the co-investment sleeve with minimum commitments, fees and allocation policy.
Co-investment sleeve2C
5 lines
Issue of the lender request for proposals to Canadian Schedule A banks and United States debt funds.
Lender RFP · OptionalComparison of responses with a recommendation.
Comparison matrix · OptionalPreparation of the green and sustainability linked financing framework with performance indicators and margin mechanics.
Green framework · OptionalNegotiation of facility terms on the first facilities.
Facility terms · OptionalManagement of the credit process and conditions precedent through to first drawdown.
First drawdown · Optional2D
4 lines
Weekly raise reporting and board updates.
Weekly reportingContinuous data room and version management across workstreams.
Data room controlPreparation of the treasury paper on sterling, Canadian dollar and United States dollar exposure.
Treasury paper · OptionalProduction of the hedging policy, applied deal by deal to market and investor conditions.
Hedging policy · Optional