Article:

Financial Modelling Assurance Services retains number 1 ranking

10 February 2021

BDO’s Financial Model Assurance Services (‘FMAS’) team has topped the league tables again, ranked as #1 Global Model Auditor in the league tables published both by IJGlobal and Inframation & Sparkspread, having supported deals valued at over $40bn in 2020. This is the fifth year running that the FMAS team has been ranked #1 by IJGlobal by deal value, supporting an astonishing $223.6bn of deals over those 5 years.

Among the deals that the FMAS team supported in 2020, there were a number of highlights:

  • Area 1 Mozambique LNG – this $22.6bn deal was one of the largest project / infrastructure financing deals in the world last year
  • A465 Sections 5 and 6 ‘Heads of the Valley’ MIM – this was first project to be procured under Wales’s new Mutual Investment Model, which allows the public sector to take an equity stake in the project company delivering the project
  • Seagreen Alpha & Bravo Offshore Windfarms – continuing the FMAS team’s support for many of the UK’s largest offshore windfarm, located in the Firth of Forth, Seagreen will be Scotland’s largest offshore windfarm once construction
  • Northvolt Ett – another landmark project, this relating to the USD 2.3 bn financing of a large scale lithium-ion battery manufacturing factory in Sweden. Powered by clean energy the plant will supply major European car manufacturers with batteries for electric vehicles. When completed the plant’s capacity will be 32 GWh
  • G.Network acquisition – supporting Universities Superannuation Scheme purchase of a majority stake in G.Networks Limited, which is developing a network of full fibre broadband across 13 London boroughs.  Digital infrastructure is seen as one of the most attractive areas for infrastructure investors, and the FMAS has developed a deep understanding of FTTH/FTTP projects

“Being recognised as #1 by deal value again demonstrates that clients trust us to support the largest and most complex projects around the world, from traditional natural resources projects, through our extensive renewable energy experience (we were ranked #1 for renewables in 2020 by deal count by IJGlobal), to newer sectors such as digital infrastructure.

The global pandemic has not affected our ability to support clients, and we have demonstrated that we can operate seamlessly on a fully remote, fully connected basis.” - Kirit Mistry, Partner, Head of Financial Model Assurance.