(Source: Shutterstock.com)
Investment manager Redwheel has agreed to acquire Tortoise Capital Advisors subsidiary Ecofin’s assets, which as of May 31 reached approximately $1.4 billion, according to a July 11 press release.
The firms expect the transaction to close in third-quarter 2024. Financial terms were not disclosed.
London-based Ecofin invests in sustainable infrastructure and decarbonization. Redwheel’s CEO Tord Stallvik said Ecofin will benefit from the company’s sustainability ecosystem called Greenwheel.
Greenwheel powers Redwheel’s enhanced integration, transition and sustainable funds, Stallvik said.
“We have found compatible cultures and a shared ambition for the fundamental growth opportunities catalyzed by the global transition to more sustainable economies,” said Ecofin President Brent Newcomb.
Moelis & Co. served as exclusive financial adviser to Tortoise Capital and Ecofin. Morgan, Lewis & Bockius U.K. served as legal counsel to Redwheel. Bryan Cave Leighton Paisner served as legal counsel to Tortoise Capital and Ecofin
Recommended Reading
NatGas Shouldering Powergen Burden, but Midstream Lags, Execs Warn
2025-02-14 - Expand Energy COO Josh Viets said society wants the reliability of natural gas, but Liberty Energy CEO Ron Gusek said midstream projects need to catch up to meet demand during a discussion at NAPE.
Pipeline Maintenance Drives Waha Negative, Again
2025-03-20 - Analysts predict plenty of natural gas demand on the Gulf Coast is coming as LNG operations ramp up.
NatGas Prices, E&Ps Take a Hit from DeepSeeking Missile
2025-01-28 - E&Ps such as Expand Energy and EQT Corp. saw share prices drop on news of less power-intensive AI, but analysts predict the natural gas market will rebound as LNG exports and overall power demand continues to increase.
Expand CFO: ‘Durable’ LNG, Not AI, to Drive US NatGas Demand
2025-02-14 - About three-quarters of future U.S. gas demand growth will be fueled by LNG exports, while data centers’ needs will be more muted, according to Expand Energy CFO Mohit Singh.
Glenfarne CEO Expects FID on Texas LNG by End of 2025
2025-03-16 - Glenfarne Energy Transition executives are waiting on a re-issue of a vacated FERC permit for Texas LNG.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.