Investec Power and Infrastructure Finance has provided a $50 million credit facility for Rockland Capital’s private equity fund, Rockland Power Partners (RPP), to assist in the running of the fund over the near term, according to a statement released on Wednesday.
The division of Investec Bank backed the fund with a multi-draw term loan to facilitate investments in natural gas, solar, wind and flywheel generation projects.
Michael Pantelogianis, co-head of Investec’s North American power team, said: “This financing represents Investec’s first financing for Rockland, a premier private equity player within the independent power space.”
James Maiz of Rockland Capital added: “Investec creatively structured a customized facility to meet our needs, in a very timely manner.”
Chadbourne & Parke advised Investec and Bingham McCutchen advised Rockland Capital.
Rockland Capital, founded in 2003, acquires and develops investment opportunities in North America and European power and energy infrastructure markets. RPP is a $333 million US investment fund.
Investec Power and Infrastructure Finance has a global team of 50 people specialising in transactions across a wide range of specialist infrastructure sectors. It is part of Investec’s Corporate and Institutional Banking division.