Hull Street Energy closes US$1.125 bn hard cap for its second institutional fund

Hull Street Energy has achieved the final closing for its second institutional fund, Hull Street Energy Partners II, L.P. The Fund, which targets investments in the North American power sector as the economy electrifies and decarbonizes, was oversubscribed and closed at its hard cap of US$1.125 billion. 

Hull Street Energy has received strong interest from a group of institutional investors, including endowments, foundations, insurance companies, leading consultants, pension plans, funds of funds, and family offices. Hull Street Energy targets undermanaged middle-market electricity businesses. Its first fund is fully deployed with a portfolio of hydroelectric assets, thermal power plants, and solar projects in the USA. In January 2022, the Fund made its inaugural capital commitment to SunGrid Solutions, a growing Battery Energy Solutions Service (BESS) company.   

Eaton Partners served as the global placement agent for the Fund and DLA Piper served as fund counsel.