Pearl Energy Investments has announced that it held its first and final closing of Pearl Energy Investments II, L.P. at its hard cap with total commitments of US$600 million.
Pearl is a provider of equity capital and sponsorship to the energy industry, concentrating on the upstream, midstream, and services sectors. Pearl targets equity investments between US$25 million and US$75 million, and has led investments requiring in excess of US$125 million of equity capital.
Kirkland & Ellis LLP served as fund formation counsel. Pearl did not engage a placement agent in connection with the formation of the fund.
William J. Quinn, Managing Partner, said:
“We are truly appreciative for the continued loyalty and support of our investors. We believe the confidence they have placed in us is a result of the outstanding team we have built at Pearl combined with the high quality of investments in our portfolio. The Pearl team continues to be excited about the current investment environment and looks forward to the opportunity to generate attractive risk-adjusted rates of return for our partners.”
Southern Company subsidiary Southern Power has announced the acquisition of its fifth Texas wind project, the 148-megawatt (MW) Cactus Flats Wind Facility, from Renewable Energy Systems Americas Inc. (RES).
Read moreIberdrola's US subsidiary AVANGRID Renewables and Austin have entered into an agreement for the long-term sale of power for the city of Austin (Texas).
Read moreDeepwater Wind has unveiled plans for its newest project off the American coast: Revolution Wind, a utility-scale offshore wind farm paired with an energy storage system.
Read moreCypress Creek Renewables, an integrated renewable energy firm, has secured a US$450 million facility from a consortium of investors including Temasek. Proceeds will be utilized to support the ongoing development, construction and acquisition of solar assets located throughout the United States.
Read moreAlterra Power Corp. has announced the completion of financing for the 200 MW Flat Top wind project and the concurrent advancement of the project into the final phase of construction.
Read more