Bridgepoint Group is in discussions to acquire Energy Capital Partners, a private investment firm with a focus on energy-transition and infrastructure assets, for about $1 billion in cash and stock, according to a report by Bloomberg.
Bridgepoint Group is in discussions to acquire Energy Capital Partners (ECP), a private investment firm with a focus on energy-transition and infrastructure assets, for about $1 billion in cash and stock, according to a report by Bloomberg.
The report cites unnamed sources as confirming that the negotiations are at an advanced stage but that an agreement has yet to be struck and the transaction may still not progress.
According to data compiled by Bloomberg, New Jersey-based ECP, led by founder Doug Kimmelman and managing partners Pete Labbat and Tyler Reeder, has around $14.4 billion under management and counts Blue Owl Capital Inc’s Dyal Capital as a minority stakeholder. The firm’s holdings include a stake in Calpine Corp, which describes itself as the largest US generator of electricity from natural gas and geothermal resources.
London-based Bridgepoint, run by Chairman William Jackson, has more than €37 billion in assets under management and to date has focused on private equity and credit investments in a range of sectors including industrials, business services, consumer, technology, health care and financial services.
