Clifford Chance

Clifford Chance advises Capital Dynamics on lift-out of US clean energy infrastructure funds by investor consortium

New York: Clifford Chance is advising global private asset manager Capital Dynamics on the lift-out of certain US clean energy infrastructure (CEI) funds by APG, California State Teachers' Retirement System, and a subsidiary of the Abu Dhabi Investment Authority and the transfer of assets held by such funds to the consortium of investors.

As part of the broader transaction, the firm advised on the spin-off sale of CD Arevon USA, Inc., including certain members of its CEI team, to the consortium to form Arevon Energy, Inc. Following the sale, which closed on August 16, 2021, Arevon will support a clean energy platform of 4.5 GW of solar and battery storage projects and a 3.0 GW pipeline.

Partner Cliff Cone said, "We are proud to support our longtime client Capital Dynamics on its US CEI transactions."

Partner Michael Bonsignore added, "The firm is committed to advising clients on transactions that will accelerate the transition to clean energy and lead to a more sustainable future."

Partner Michael Sabin and Cliff Cone are leading the funds and investment management aspects of the transaction, with Michael Bonsignore and associate Christine Kim leading on M&A. The full team includes: associate Simi Obatusin (Funds) and law clerk Maria Kim (Business Transactions); counsel Daryl Fairbairn (Intellectual Property); counsel Victoria Manthas (Real Estate); partner Avrohom Gelber and associate Jason Sacks (Tax); partner Renee Latour and associate Holly Bauer (CFIUS, Washington, DC); partner Paul Koppel (Executive Compensation & ERISA); and associate Brian Yin (Data Protection).