Mills & Reeve advises on landmark university merger and £200 million Impact Fund

The universities have worked with the Office for Students and the Department for Education to gain approval for the first-of-its-kind model – a significant move that enables the establishment of the new multi-university group as a legal entity whilst allowing the two universities to continue trading under their individual names.

The Mills & Reeve team was led by partner Poppy Short with key support from principal associate Sam Sutton and senior associate Emily Cox, as well as the wider multi-disciplinary team.

Short said: “This transformational deal requires deep sector knowledge, technical expertise and exceptional collaboration across the firm. We’re grateful to both universities and the other advisors for working in partnership throughout this process and are looking forward to supporting the universities through to completion of the merger in August, and beyond.

“We’re honoured to support the creation of this landmark institution and to help deliver a model that we hope could be a blueprint for the future of UK higher education. This project demonstrates the sector’s commitment to supporting transformative change.”

Professor Georgina Randsley de Moura, Acting Vice‑Chancellor and President of the University of Kent, added: “This is a key milestone that should give our staff, students and partners confidence that this trailblazing new multi-university model is the right one to protect our future and deliver a bold new approach for universities working together.

“It’s testament to the innovative thinking and detailed work that has been done in the development of this model that we have the backing of the Department for Education and Office for Students to proceed.”

“Mills & Reeve have been an exceptional partner throughout this process, bringing deep sector expertise to help us shape a truly pioneering model for the future of higher education. Their guidance has been instrumental in navigating the scale and complexity of this merger, and we are grateful for the collaborative spirit and professionalism they have shown at every stage.”

The proposed name of the London and South East University Group (LASEUG) is currently going through a formal consultation by the Office for Students, expected to conclude in the next few months.

The trailblazing multi-university group will come into effect as a legal entity from 1 August 2026. The University of Greenwich and the University of Kent will continue to operate as two distinct academic divisions within the new structure, whilst retaining their individual names, identity and brands. Students will continue to apply to, study at and graduate from their chosen university. All staff from both universities will be employed by LASEUG.

The combined entity will provide a strong financial foundation to weather current and future economic challenges, widen access to higher education across South East London and Kent, address skills gaps and inequalities, and increase research capacity, particularly in shared priority areas, such as food security and sustainability, health and wellbeing and the creative industries.

Its collective power will enable it to tackle real world issues with greater impact locally, nationally and globally.

In a separate transaction, Orchard Street Investment Management has deployed £200 million for its second Impact Fund within six months of launch and Mills & Reeve advisers were also to the fore here.

The second of Orchard Street’s impact funds is focused on generating strong financial returns, combining income resilience and delivering measurable environmental outcomes through the remediation, decarbonisation, and repositioning of assets across the UK.

Within the first six months since the launch, the Fund has assembled a portfolio of six assets comprising four prime multi-let industrial estates and two dominant regional retail warehouse parks in £200m of high-quality acquisitions, most of which were off market.

Using Orchard Street Investment Management’s proprietary Impact Framework, Mills & Reeve is to support the undertaking of extensive decarbonisation initiatives including solar PV installation, EV charging infrastructure, electrification and targeted improvements to EPC ratings, as well as wider social benefits through biodiversity enhancements and growth of green construction skills.

The team was led by partner Jo Davies and supported by principal associates Frances Iwaschkin, Emma Purton and Chris Warenius and associate Emma Clarke, alongside others in the firm’s built environment, planning, construction, environmental and tax teams.

The Mills & Reeve team’s experience in supporting clients with complex, impact-focused real estate investments builds on the work of the firm’s ESG practice, helping to deliver long-term value for investors through the environmental future-proofing of property assets.

• PHOTOGRAPH: From left: Craig McWilliam, chair of the Governing Body, University of Greenwich; Professor Georgina Randsley de Moura, Acting Vice-Chancellor and President of the University of Kent; Professor Jane Harrington, Vice-Chancellor and Chief Executive Officer of the University of Greenwich; Mark Preston, chair of the Council, University of Kent). Courtesy – University of Greenwich.