ECP-backed Triple Oak seeks complex wind projects; GP-led deals surged through the second half

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ECP-backed Triple Oak seeks complex wind projects; GP-led deals surged through the second half

Morning Hubs!

This is Chris, on for Wire Wednesday.

How are things looking out there?

• Energy Capital Partners-backed Triple Oak Power is focused on greenfield development opportunities, along with selective brownfield projects

• Blackstone’s global head of life sciences, Nicholas Galakatos, talked to PE Hub Europe about a “new era of medicine”

• GP-led secondaries deals like continuation funds surged through the second half as markets improved and pricing strengthened, Jefferies found

Wind

Energy Capital Partners, in a deal announced earlier this month, acquired Triple Oak Power, which was formed in 2020 by power industry vets Jesse Gronner and Ken Labeja, writes Michael Schoeck on PE Hub. Subscribe to the full version of the Wire to see how the deal came together and what Triple Oak has on tap.

Medicine

Blackstone’s global head of life sciences, Nicholas Galakatos, talked to PE Hub Europe about a “new era of medicine” being ushered in by AI, machine learning and a deeper understanding of chronic diseases, writes Craig McGlashan. To see an excerpt from the interview, sign up for the full version of the Wire.

Loan

Carlyle Group acquired Monogram’s $415 million private student loan portfolio and also invested in the company, the firm announced in a statement. Monogram provides finance services to students and their families.

Secondaries

GP-led secondaries deals like continuation funds surged through the second half as markets improved and pricing strengthened, Jefferies found, setting the stage for a strong first half. Read more here on Buyouts.

You'll find more details from the research report in the premium version of the Wire.

That’s it for me! Have a great rest of the day. Hit me up with tips n’ gossip, feedback or Scotch recommendations at christopher.w@pei.group or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Large managers gobbling up smaller ones will be a key theme in the GP stakes market this year, a new report by Blue Owl Capital said. (Buyouts)

Contributions from Oregon Investment Council’s private equity portfolio outweighed distributions by $518 million, the system’s first year of negative cashflow since the global financial crisis. (Buyouts)

Kirkland & Ellis remains the law firm in the number one position by both value of funds raised and total fund count in Private Equity International’s latest Fund Formation League Table.

In its first foray into private credit, Citigroup is teaming up with LuminArx Capital Management to launch Cinergy, a private lending strategic financing venture. The partnership represents the latest effort by a money center bank to access the growing demand for private credit. (Private Debt Investor)

Ares Management has taken the lead on a single-asset continuation fund transaction involving an asset in the insurance industry. (Secondaries Investor)

Following protests over agricultural-related environmental policies in Australia, Spain, France and the Netherlands in recent years, German farmers came onto the streets this month in a reminder of how quickly political decisions can raise the ire of farmers. (Agri Investor)