Excelsior Renewable Energy Fund reaches final close at USD504 million

Excelsior Energy Capital (“Excelsior”), an independent North American renewable energy investor, announced the final close of its inaugural fund, Excelsior Renewable Energy Investment Fund I LP, with total capital commitments of US$504 million, exceeding the Fund’s US$500 million target. The Fund will continue to invest equity in middle-market wind and solar power plants across the United States and Canada.

The Fund attracted a diverse base of limited partner investors from the United States, Japan, Europe and the Middle East, representing a blue-chip roster of pension plans, fund-of-funds, diversified asset managers, leasing companies, family offices, endowments and other financial institutions.

To date the Fund has made seven investments comprised of 27 solar and wind projects across five different U.S. states, with a combined nameplate capacity of 192 MW.

Sidley Austin LLP served as legal counsel for Excelsior on the transaction, led by Partner Karen Dewis and Associate Shannon Thompson.

Probitas Partners, Consilium Capital and The Trinity Group served as placement agents for the Fund.