FIERA INFRASTRUCTURE ACQUIRES EQUITY INTEREST IN A PORTFOLIO OF SOLAR AND WIND POWER GENERATION PROJECTS
TRANSACTION ADDS HIGH-QUALITY RENEWABLE ENERGY ASSETS AND DIVERSIFICATION TO INVESTMENT PORTFOLIO
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Fiera Infrastructure Inc., a leading infrastructure management firm and an affiliate of Fiera Capital Corporation, announced recently that Fiera Infra LP, an infrastructure fund under its management, 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, with three other projects anticipated to be added to the portfolio in 2017.
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 an 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.
“This investment significantly enhances and diversifies our existing portfolio,” said Fiera Infrastructure President Alina Osorio. “All eleven projects have long-term power purchase agreements with investment-grade off-takers and long-term financing in place, providing stable returns to our investors. We expect to continue to invest alongside DESRI in future projects in the U.S.”
“As DESRI looks to expand its renewable energy business across the U.S., it is pleased to have found in Fiera Infrastructure a new partner with tremendous expertise in the infrastructure space,” said David Zwillinger, President of DESRI.
Marathon Capital LLC acted as financial adviser to Fiera Infrastructure.
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 a rigorous approach to investment and asset management, in combination with Fiera Capital’s excellence in portfolio management and personalized investment solutions. Our uniquely diversified funds recognize the exclusive characteristics of the alternative asset class, while optimizing governance and alignment with investors. With the investment in the DESRI renewable assets portfolio, Fiera Infrastructure has more than C$810 million in assets under management. www.fierainfrastructure.com