Patrick Hirsch
Partner, Head of Project Finance- Overview
- Experience
- Publications & Insights
Overview
Patrick Hirsch is a partner in our Johannesburg office and Heads our Project Finance Practice.
He specialises in project and other financing transactions (including public private partnerships) and also has a wide range of experience in mergers and acquisitions, due diligences and general corporate, commercial and contract work.
In the project finance field, Patrick acts for both borrowers and lenders in South Africa and other African countries in the aviation, energy, housing, mining, office accommodation and transportation industries. In other financing transactions he has advised borrowers and lenders on acquisitions (including black empowerment deals) and general corporate facilities in the banking, catering, mining, retail and telecommunications sectors.
He has BA and LLB degrees from the University of KwaZulu-Natal.
Specialist Services
Relevant Experience
- In the In the field of project finance, Patrick was the lead lawyer in the team that advised the Standard Bank of South Africa and other lenders in three solar PV projects that reached financial close and the lead lawyer in the team that advised ABSA Bank and DBSA in three wind power projects that reached financial close, all under the South African Government Department of Energy’s Renewable Energy IPP Procurement Programme. He also acted for the borrower and sponsors in relation to the project financing of Gigawatt’s 100MW Gas Fired Ressano Garcia Power Station project in Mozambique.
- In the field of public private partnerships, he was a member of the team which advised Rand Merchant Bank and Standard Bank in their financing of the Gautrain Rapid-Rail Link project, and the team which advised the private party in relation to the South African Department of Trade and Industry’s office accommodation PPP. He also led the team that acted for the lenders (led by Standard Bank) in closing the South African Department of Education’s office accommodation PPP. Most recently, Patrick was one of the partners who acted for the private party consortium in closing the City of Tshwane’s Munitoria office accommodation PPP.
- Patrick advised IFC, PIC, IDC, DEG, Proparco, Futuregrowth Asset Management and Eskom Pension and Provident Fund in relation to their mezzanine funding of FirstRand Empowerment Trust’s acquisition of a stake in FirstRand Bank Limited.
- He has also advised Murray & Roberts in relation to the consolidation of a number of separate corporate banking facilities so nthat they are governed by single omnibus common terms agreement.
- He has advised African Rainbow Minerals in relation to numerous financing matters, including its corporate facilities and the funding of a copper mining project in Zambia.
Signature Matters
Awards
- In Chambers and Partners Global Commentary, Patrick is ranked in Band 3 for Projects and Energy in South Africa (2020, 2019 and 2018) and is described as “highly recommended for his experience in the renewables sector, and is particularly singled out for his ability with PPP deals.”
- IFLR1000’s Financial and Corporate Guide consistently rated Patrick as a Highly Regarded Lawyer for Energy and Infrastructure, Project Development, Project Finance and M&A for the past three consecutive years (2018 to 2020) and as a Leading Lawyer in 2015 and 2016.
- Recognised by Best Lawyers 2017 for Banking and Finance Law.
Patrick Hirsch acts for a wide range of clients on significant projects, including lenders, investors and construction companies. He is well versed in renewable energy projects, as well as PPPs and infrastructure schemes. – Chambers and Partners 2020
Patrick Hirsch is ‘gaining further market recognition.’ -Legal 500 2020
Patrick Hirsch demonstrates notable strength in project finance, in addition to handling corporate work in the sector. He acts for borrowers and lenders on a number of solar, wind and hydro projects under the country’s renewables programme and recently assisted Rand Merchant Bank with setting up a fund for the financing of SME renewable energy projects. Commentators highlight his technical skill and “expertise in finance and project documentation,” adding: “He has a strong ability to work with peers across projects and is firm on our position in negotiations.” – Chambers and Partners 2019
Patrick Hirsch is well regarded for his expertise in project finance, as well as work on corporate matters. Clients value his calm and practical approach, as well as his notable industry experience. Sources describe him as “very thoughtful and very meticulous,” with one adding: “Patrick has proven to be a trusted and reliable source of outstanding legal service. His experience and logical approach to structuring complex project finance transactions has proven invaluable.” – Chambers and Partners 2018
Patrick Hirsch specialises in project finance, M&A and corporate matters. He often acts for clients in the construction, energy and financial services industries. – Chambers and Partners 2017
Patrick Hirsch’s clients originate from a broad range of backgrounds, including construction, mining and financial services. He advised Royal Bafokeng Resources on the ZAR 2.2 billion financing of a housing project. – Chambers and Partners 2016