Global Infrastructure Partners (GIP) has agreed to acquire the principal holdings of Competitive Power Ventures (CPV).
The transaction includes equity interests in a portfolio of power generation projects, as well as CPV's development and asset management platforms. CPV's management team will continue to lead the business and develop value-added investment opportunities in the US power sector.
The transaction is expected to close in the second quarter of 2015.
Commenting on the transaction, Adebayo Ogunlesi, Chairman and Managing Partner of GIP, says: "This transaction combines a portfolio of high quality power projects with an experienced management team that has an outstanding track record in independent power development and asset management. We look forward to working with CPV's management to develop further attractive investment opportunities in power generation infrastructure."
