BOSTON, July 8, 2021 /PRNewswire/ -- ArcLight
Capital Partners, LLC ("ArcLight") announces the successful closing
of ArcLight Renewable Infrastructure Fund SM SPV, L.P. (the
"Fund"), ArcLight's first continuation fund. ArcLight also
announces the Fund's contemporaneous acquisition of a 25% interest
in the 192MW Sidney Murray Hydroelectric Project ("Sidney Murray") from ArcLight Energy Partners
Fund V, L.P. ("Fund V").
Fund V originally acquired an interest in Sidney Murray in 2011 and aggregated a larger
position through a series of subsequent acquisitions. The balance
of Sidney Murray is owned by
affiliates of Brookfield.
"Sidney Murray is a world-class,
baseload renewable energy resource selling power under long-term
contracts to investment grade counterparties," said Dan Revers,
Founding Partner of ArcLight. "ArcLight is excited to continue to
work to optimize the project for the benefit of all
stakeholders."
Since inception in 2001, ArcLight has invested over $4 billion of equity capital in 16 renewable
infrastructure platforms – including Great River Hydro, Leeward
Renewable Energy, Terra-Gen, and CPV Wind – employing wind, solar,
hydroelectric, geothermal and biomass technologies. The closing of
the Fund furthers ArcLight's track record of delivering realized
returns in clean energy assets that are re-shaping domestic power
markets and meeting the ESG goals of ArcLight's constituents. The
Fund also represents an important step in ArcLight's broader
strategy within the energy transition landscape, where it seeks to
deliver flexible capital solutions informed by deep domain
experience to the growing opportunity set in this market.
The Fund is anchored by affiliates of GCM Grosvenor and
HarbourVest and includes continued investment from certain existing
Fund V limited partners.
Evercore and TD Securities USA
served as financial advisors to ArcLight. Latham & Watkins LLP
and Ropes & Gray LLP served as counsel to ArcLight.
About ArcLight
ArcLight is one of the leading energy infrastructure firms.
Founded in 2001, the firm helped pioneer an asset-based approach to
investing in the energy sector. ArcLight has invested approximately
$25 billion in 112 transactions since
inception. Based in Boston, the
firm's investment team employs a hands-on value creation strategy
that utilizes its in-house technical, operational, and commercial
specialists, as well as the firm's approximately 1,500-person asset
management affiliate. More information about ArcLight, and a
complete list of ArcLight's portfolio companies can be found at
www.arclight.com.
About GCM
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset
management solutions provider with approximately $65 billion in assets under management across
private equity, infrastructure, real estate, credit, and absolute
return investment strategies. The firm is in its 50th year of
operation and is dedicated to delivering value for clients in the
growing alternative investment asset classes. GCM Grosvenor's
experienced team of approximately 500 professionals serves a global
client base of institutional and high net worth investors. The firm
is headquartered in Chicago, with
offices in New York, Los Angeles, Toronto, London, Tokyo, Hong
Kong, and Seoul. For more
information, please visit: www.gcmgrosvenor.com.
About HarbourVest
HarbourVest is an independent, global private markets investment
specialist with over 35 years of experience and more than
$76 billion in assets under
management, as of March 31, 2021. The
Firm's powerful global platform offers clients investment
opportunities in private equity, private credit and real assets and
infrastructure through primary fund investments, secondary
investments, and direct co-investments, in commingled funds or
separately managed accounts. HarbourVest has more than 700
employees, including more than 150 investment professionals across
Asia, Europe, and the Americas. This global team has
committed more than $46 billion to
newly-formed funds, completed over $29
billion in secondary purchases, and invested over
$21 billion directly in operating
companies. Partnering with HarbourVest, clients have access to
customized solutions, longstanding relationships, and actionable
insights.
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SOURCE ArcLight Capital Partners