Freshfields Bruckhaus Deringer is set to take pole position for private equity house CVC Capital Partners on the proposed $2bn (£1.3bn) Singapore listing of Formula 1.

The initial public offering (IPO), which is planned for July this year, is expected to see Freshfields advise CVC – which owns 63.4% of F1 – as well as F1 itself, with corporate partner Chris Bown heading up the magic circle firm’s team.