Akin Gump Expands Investment Funds Practice To Abu Dhabi

Sunday, October 4, 2009 - 00:00

Akin Gump Strauss Hauer & Feld LLP announced today that partner Robert M. Griffin has relocated to Abu Dhabi to head the firm's Middle East investment funds practice.Mr. Griffin was most recently based in the firm's London office.

Mr. Griffin has 10 years of experience advising fund managers on the formation and operation of international private investment funds, including both hedge funds and private equity funds.

Mr. Griffin noted, "Abu Dhabi is becoming a center for fund managers seeking to expand their activities internationally and in the Middle East in particular. Working closely with colleagues around the world, we are adding to our substantial international capability to provide advice to clients across all types of funds."

Power-generation company Dynegy, Inc. has announced the sale of nine of its power plants to LS Power. In a transformative transaction, Houston-based Dynegy will receive more than $1 billion in cash and 245 million of its Class B shares from its 40 percent shareholder, LS Power. LS Power will receive $235 million principal amount of 7.5 percent senior unsecured notes due 2015. In addition, Dynegy will sell to LS Power 4,788 megawatts of peaking and combined-cycle generation assets, as well as Dynegy's remaining interest in the Sandy Creek project under construction in Texas. The deal would eliminate Dynegy's two-class share structure and increase its liquidity.

Kevin Blodgett, general counsel, and Kent Stephenson, deputy GC, were assisted on the deal by an Akin Gump Strauss Hauer & Feld LLP team led by partners Michael E. Dillard and Richard Gittleman.