Macquarie Asset Management is acquiring a minority stake in D.E. Shaw Renewable Investments in an equity investment of up to $1.73 billion, according to a Sept. 24 press release.

The asset firm, part of Sydney-based Macquarie Group, is funding the transaction through the Macquarie Global Infrastructure Fund, Macquarie Green Energy and Climate Opportunities Fund and Macquarie Energy Transition Infrastructure Fund International. 

The investment is intended to strengthen D.E. Shaw’s position as a U.S. wind, solar and battery storage developer, owner and operator, the release said. D.E. Shaw has a portfolio across 24 states with more than 10 gigawatts of generation capacity, which can power nearly 2 million homes, according to its website.

“With the growth of the renewable-energy market, suppliers and customers are seeking trusted partners that can scale and consolidate the market,” said William Demas, head of Macquarie Asset Management Green Investments for the Americas. The partnership will help Macquarie Asset Management “capture this opportunity and help accelerate the transition to net zero.”

Lazard served as financial adviser and King & Spalding served as legal adviser to Macquarie Asset Management.

Goldman Sachs & Co. LLC served as financial adviser and Skadden, Arps, Slate, Meagher & Flom LLP served as legal adviser to D.E. Shaw Renewable Investments.

The transaction is subject to regulatory approvals and other closing conditions.

Comments