David Cave

Overview

I am a Partner in Michelmores’ Projects team.

I specialise in infrastructure projects and project financing, with particular experience in PPP projects and other public sector outsourcing projects across the education, healthcare, defence, waste, transport and accommodation sectors.

I have advised investors, lenders, construction contractors and service providers as well as the UK Government and other public sector entities on a broad range of project financed deals, commercial arrangements, joint ventures and facilities management contracts, both during the initial procurement phase and in respect of ongoing operational matters. I also advise on infrastructure secondary markets transactions.

I trained at Ashurst, where I qualified in 2003, joining Michelmores in 2024. I am delighted to have joined a thriving projects practice with a Tier 1 national ranking from Chambers UK for ‘Infrastructure: PPP/PFI’.

Recent experience

Advising a major UK facilities management and professional services company in relation to a range of matters, including negotiating replacement guarantees and associated documents across its significant portfolio of PPP projects following the sale and purchase of a facilities management business, variations to PPP projects, disputes and major settlements in a variety of sectors (including healthcare, education and defence)

Advising the Department for Education on the Priority School Building Programme which was procured under the Private Finance 2 (PF2) model. This involved the procurement of five separate batched schools projects (with a combined total of 46 schools and a capital cost of £700m) as well as a novel associated funding model whereby all five projects were funded by a single financing vehicle, known as the aggregator. I have also advised on numerous subsequent variations to those projects

Advising the lenders to the successful consortium on a £125m student accommodation DBFOM contract which included the design and build of 496 student beds, the refurbishment of a further 734 existing student beds and the construction of a new multi-storey car park

Advising the lender group in relation to a PPP project for six new higher education buildings across multiple campuses in the east, south and midlands of Ireland, through a €250m construction programme

Advising various PPP/PFI project companies and/or their lenders in relation to ongoing operational matters, including variations, multi-party disputes, major settlements, subcontractor and/or guarantor replacements, market testing and project restructurings in sectors including healthcare, education, defence, student accommodation, waste and social housing