Ontario Teachers to sell 50% interest in Northern Star Generation

Ontario Teachers' Pension Plan has agreed to sell its 50% ownership position in Northern Star Generation LLC. The buyer in the transaction is GulfSun Power Holdings LLC, an affiliate of U.S.-based Harbert Management Corp, which manages private equity and other alternative investment funds. The price of the acquisition, which is expected to close in the second quarter, was not disclosed. Based in Houston, Northern Star owns or has an interest in eight electric generation facilities with a combined net capacity of approximately 1,235 MW.

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