Marathon Capital Announces Fiera Infrastructure's Acquisition of Equity Interest in DESRI-owned Renewable Energy Portfolio
Marathon Capital is pleased to announce that Fiera Infra LP, an infrastructure fund under the management of Fiera Infrastructure Inc. ("Fiera Infrastructure"), a leading infrastructure management firm and an affiliate of Fiera Capital Corporation, has acquired an indirect equity interest in a U.S. portfolio of eight solar and wind power generation projects owned by affiliates of D. E. Shaw Renewable Investments, L.L.C. ("DESRI") and other investors. An additional three projects are anticipated to be added to the portfolio in 2017. Marathon Capital served as Fiera Infrastructure's exclusive buy-side financial advisor, providing valuation, due diligence, negotiation, and transaction execution support throughout the life of the acquisition process.
"It has been a privilege to work with the Fiera Infrastructure team on this transaction. The DESRI assets comprise a diversified portfolio of best-in-class utility scale renewable energy projects. Fiera Infrastructure's acquisition of a significant stake in the portfolio is a major milestone in their continued expansion into the U.S. market," said Ted Brandt, CEO of Marathon Capital.
The portfolio of eleven projects has gross generation capacity of 921 megawatts (alternating current) and includes assets located across eight states. The projects are currently operating or anticipated to be operating prior to being added to the portfolio. DESRI will continue to own a controlling interest in each project. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than $41 billion in investment capital as of January 1, 2017.
"Marathon Capital's extensive experience in the utility-scale wind and solar sectors and its tax equity expertise were highly valued-added in completing this important transaction for Fiera Infrastructure," said Alina Osorio, Fiera Infrastructure's President.
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector. Marathon Capital is a three-time recipient of the "Best Renewable Asset M&A Advisor" Award (2013, 2014, 2016), as well as the "Renewable Generating Project Finance Deal of the Year" Award (2016) in Power Finance & Risk's Annual Power Finance Deals and Firms Awards. www.marathon-cap.com
About Fiera Infrastructure
Fiera Infrastructure is a leading investor across all subsectors of the infrastructure asset class. Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships and rigorous approach to investment and asset management, in combination with Fiera Capital's excellence in portfolio management and personalized investment solutions. Fiera's uniquely diversified funds recognize the exclusive characteristics of the alternative asset class, while optimizing governance and alignment with investors. Fiera Infrastructure has more than C$810 million in assets under management. www.fierainfrastructure.com
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