Natural Resources

Blackstone buys Hill Top Energy Center from Ardian, as data centers drive unprecedented power demand growth; how OEP will invest Fund IX

Leading with a scoop: Blackstone is acquiring Hill Top Energy Center from Ardian for about $1 billion; an interview with One Equity Partners president Greg Belinfanti about how the firm plans to invest its recently closed $3.25 billion ninth flagship fund.

Aspen Midstream secures equity commitment from EnCap to form Aspen II

The investment will be used to pursue midstream infrastructure opportunities across North America.

Hull Street Energy to acquire Consumers Energy's hydropower fleet

The hydropower fleet comprises 13 dams across Michigan with a combined installed capacity of 132 MW.

Ariel Alternatives buys Groome Industrial Service Group; Rhône Group to acquire Copperweld Bimetallics from Kinderhook

A pair of power- and utility-focused exclusives: Ariel Alternatives acquires Groome Industrial Service Group from Argosy Private Equity; and Rhône Group and Kinderhook Industries reach an agreement under which Rhône will acquire a 110-year-old manufacturer of bimetallic power and grounding conductors. Also: Sverica Capital Management makes a growth investment in Raken, a field management software provider to the construction industry; and Arcapita acquires a majority equity stake in C&K Paving, a provider of parking lot maintenance services.

Windjammer acquires PDU Cables and Engineered Products Company

PDU Cables provides power cable solutions for data centers and EPCO is a supplier of specialty products to electrical distributors.

Data center-fueled electricity demand is driving up valuations for power infra, with Blackstone and Kohlberg among the buyers

Vision Ridge Partners has acquired FortisTCI, an electric utility serving the Turks and Caicos Islands in the West Indies.