GCM Grosvenor and Vesper Energy Forge Strategic Partnership

Eric Scheyer

GCM Grosvenor has dedicated to speculate as much as $100 million over the subsequent 12 months in Vesper Energy, a developer, proprietor and operator of utility-scale renewable energy belongings. A world various asset administration options supplier, GCM Grosvenor will purchase a minority possession stake in Vesper Energy and can be part of the prevailing investor group for the corporate led by Magnetar Capital, another asset supervisor.

GCM Grosvenor’s funding is a part of its deal with unlocking worth in infrastructure by shut partnership between labor, authorities and personal capital. The funding will advance Vesper Energy’s rising portfolio of utility-scale solar, solar and energy storage and standalone energy storage initiatives. Vesper Energy at the moment has a 17 GW pipeline of solar and energy storage initiatives in North America, together with 1.5 GW of de-risked, advanced-stage belongings within the high-growth energy markets of CAISO, ERCOT, PJM and MISO.

“Since our initial investment in 2020, we have continued to be very excited about Vesper’s growth,” says Eric Scheyer, head of energy & infrastructure at Magnetar. “Over the last three years, we have worked closely with Vesper to successfully grow their team; advance their project pipeline and backlog; and expand the platform’s capabilities. We look forward to further accelerating Vesper’s growth alongside GCM Grosvenor as a new partner in the business.”

Thorndike Landing LLC acted as GCM Grosvenor’s monetary advisor on the transaction with Allen & Overy appearing as its authorized advisor. Vesper Energy’s and Magnetar’s monetary advisors had been BofA Securities and Marathon Capital with Eversheds Sutherland appearing as authorized advisor.

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