PE Fund Investments
Brookfield to pick up majority stake in JP Morgan-backed Leap Green Energy for $550-M
Canadian asset management firm Brookfield is to invest USD 550 million for a majority stake in Coimbatore-based Leap Green Energy , a renewables platform focused on providing clean energy solutions to commercial and industrial (C&I) customers. The investment, through the Brookfield Global Transition Fund I (BGTF I, will be made through a combination of subscription of new shares and acquisition of shares from current shareholders (which includes the PE investing arm of JP Morgan) and incremental equity capital.Out of the total amount, the firm has made an upfront commitment of USD 200 million. The remaining USD 350 million will be infused later to support the future growth of the business.The company aims to grow to over 3 giga watt (GW) in capacity over the next four to five years.
Between Oct-20 and Sep-11, Leap Green Energy had raised over USD 44 M from JP Morgan.
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