EFG Hermes platform in EUR 550 mn acquisition of European wind farms: Vortex, a renewable energy platform managed by EFG Hermes’ equity arm, is acquiring a 49% stake in an operational 664 MW portfolio of a subsidiary of EDP Renováveis (EDPR). The transaction is valued at EUR 550 mn and includes a portfolio of 23 wind farms in Spain, Portugal, Belgium and France, according to a company statement. EFG Hermes says the transaction is part of Vortex’s plan to own more than 1 GW of net installed capacity within the two years and will “nearly double” EFG Hermes’ private equity assets under management to USD 1.1 bn. All transaction financing is in place, with 40% percent of the transaction being financed through equity, “5% of which was a seed investment by EFG Hermes and 95% of which takes the form of sovereign capital from the Gulf Cooperation Council region. The remaining 60% of the acquisition finance is in the form of a 13-year facility provided by five prominent European banks,” said EFG Hermes Head of Private Equity Karim Moussa. Vortex acquired last year a 49% equity stake in EDPR France in a transaction worth USD 208 mn. The transaction is expected to close in 2Q2016. Linklaters (legal), Shearman and Sterling (legal), PwC (tax and accounting), DNVGL (technical), Willis (ins.) and BNP Paribas (financial advisor) advised Vortex on the transaction. EDPR did not disclose the names of its advisors in its statement on the transaction.