White & Case advises Development Bank of Japan on establishment of fund for energy efficiency technologies

Global law firm White & Case LLP has advised the Development Bank of Japan (DBJ), a financial institution owned by the Government of Japan, on its collaboration with Singapore-based non-profit organization the Global Centre for Maritime Decarbonisation and AIM Horizon Investments, a Singapore-based fund manager specializing in maritime and aviation funds, to establish the Fund for Energy Efficiency Technologies (FEET).

"This transaction highlights our commitment to supporting the DBJ in its efforts to promote sustainable practices in the maritime sector and demonstrates the strength of our cross-border funds and energy transition teams," said White & Case partner Eriko Sakata, who led the Firm’s team. "Our advice on this collaboration played a role in advancing innovative financing solutions for energy efficiency in shipping."

The DBJ subscribed for preferred shares issued by FEET, which aims to provide financing to shipowners to install energy-efficient technologies on their vessels.

White & Case advised on various commercial and legal risks related to the DBJ’s investment, as well as related fund documents and negotiation of fund terms with the fund manager, ensuring alignment between considerations specific to the sector and general fund practice established globally.

The White & Case team in Tokyo which advised on the transaction was led by partner Eriko Sakata and included associate Mao Muraguchi.

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