Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor, today announced the acquisition of MAP® RE/ES, the renewable energy business of MAP® Energy (MAP®). GIP’s fourth flagship fund, GIP IV, will acquire 100% of the MAP® RE/ES investment platform, team, and renewable energy assets under management from MAP®, a private fund manager and energy investor. The assets include a portfolio of producing royalty interests across more than 16,000 MW of operating wind and solar projects in the United States, as well as a nationwide development pipeline managed through joint ventures with leading national and regional development partners. The MAP® RE/ES business will continue to be led by its existing investment team.
This transaction expands on GIP’s global renewables investment strategy, which has a proven track record of value creation. GIP’s current portfolio includes approximately $9 billion of equity investments and commitments in the sector, and ownership interests in over 10 GW of operating renewable assets and over 65 GW under construction or in development.
Adebayo Ogunlesi, Chairman and Managing Partner of GIP, said, “We are excited to announce the acquisition of MAP’s world-class renewables business. MAP® RE/ES has been one of the most successful investors in U.S. renewables and has created an attractive, extremely diversified portfolio that includes exceptionally high-quality operating cash flow from the royalty interests and the opportunity to invest additional capital in a leading development pipeline. We look forward to working with the team that built this highly successful business.”
Aaron Zubaty, CEO of MAP® RE/ES, added: “Partnering with a global leader in infrastructure investing that also shares our values and philosophy is a rare opportunity. Our team is delighted to collaborate with GIP to advance more than 15 years of work to date as we continue the meticulous management and growth of our assets.”
About Global Infrastructure Partners
Global Infrastructure Partners (“GIP”) is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries. GIP’s teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP’s credit platform (“GIP Credit”) provides financing solutions and makes debt and non-common equity investments in infrastructure assets and companies. For more information, visit www.global-infra.com.
About MAP® Energy, LLC
MAP® Energy (MAP®) is one of the longest-standing private energy investment firms in the U.S. Founded in 1987, MAP® manages a $1.4 billion portfolio of U.S. natural gas royalty investments and since 2005 has been an innovative investor in renewable energy projects, including the invention of the renewable energy royalty structure that has now become an industry standard. MAP® RE/ES has directly funded the development of more than 16,000 MW of operating wind and solar generating capacity located across the United States. More information is available at www.map-energy.com.