Private Equity
PSP Investments and Alberta Teachers' Retirement Fund Board have agreed to acquire AltaGas Canada Inc, a Calgary-based energy infrastructure company. The purchase price is C$1.7 billion. TD Securities Inc is providing financial advice to AltaGas on the deal with Stikeman Elliott LLP providing legal advice. And, National Bank Financial and Citi are serving as co-lead financial advisers to PSP and ATRF while Blake, Cassels & Graydon LLP is providing legal advice.
6 min read · 21 October 2019
Carlyle Group has dropped out as a stakeholder of Lone Star Ports LLC, Reuters reported Oct. 18. Berry Group is now the sole owner of Lone Star, which proposed a $1 billion crude oil export terminal near Corpus Christi, Texas, the story said.
1 min read · 21 October 2019
Durham, North Carolina-based Leyline Renewable Capital, a provider of development financing across several renewable energy sectors, has secured $150 million in funding. The investor was Newlight Partners LP.
4 min read · 17 October 2019
Cathartes sold its stake in Westford Solar to Goldman Sachs Renewable Power. Financial terms weren’t announced. Westford Solar, of Middlesex County, Massachusetts, supplies power to a financial institution as well as two large universities in Massachusetts. Karbone Capital Markets advised Cathartes.
3 min read · 17 October 2019
The Carlyle Group has acquired a 37 percent stake in Cepsa, a Spanish oil and gas company. No financial terms were disclosed. Mubadala Investment Company, an Abu Dhabi state investor, will remain the majority shareholder in Cepsa.
5 min read · 15 October 2019
Pattern Energy, which is backed by Riverstone Holdings, has agreed to acquire two operating wind power facilities: the Henvey Inlet Wind facility in Ontario and the Grady Wind Facility in New Mexico. The purchase price is US$293 million. In addition to the acquisitions, Toronto-based investment firm CBRE Caledon has agreed to invest US$260 million in the San Francisco-based Pattern Energy Group, a renewable energy company. A number of institutional co-investors are also participating in the transaction alongside CBRE Caledon. Pattern will use the capital for general corporate purposes and buying certain operational renewable energy projects developed by Pattern Development. Pattern Energy is listed on the NASDAQ and the Toronto Stock Exchange.
6 min read · 11 October 2019
Ontario Power Generation has closed its previously announced buyout of Cube Hydro Partners, a Bethesda, Maryland-based operator of small and medium-sized hydropower facilities in the northeast and southeast U.S. The seller was I Squared Capital. No financial terms were disclosed; however, a previous news item on this transaction pegged the value of the deal at $1.48 billion. Goldman Sachs was financial adviser to OPG on the transaction while Centerview Partners did likewise for I Squared Capital.
3 min read · 08 October 2019
Tailwater Capital has invested over $500 million into Goodnight Midstream. Dallas-based Goodnight is a produced water midstream infrastructure company.
3 min read · 08 October 2019
Shah Capital has agreed to invest $11 million in ReneSola, a solar project developer. In addition to the investment, Ke Chen and Kaiheng Feng have joined ReneSola's board of directors.
3 min read · 03 October 2019
TPG has called off its deal to buy Goodnight Midstream for $930 million, Bloomberg is reporting. TPG ended the deal because Goodnight was unable to satisfy certain closing condition, the story said. Dallas-based Goodnight Midstream provides oilfield water infrastructure to oil and gas producers.
1 min read · 26 September 2019
