Hull Street Energy wraps up sophomore fund at over $1.1bn

Hull Street Energy has closed its second fund at a hard cap of $1.125 billon. Hull Street Energy Partners II’s limited partners include endowments, foundations, insurance companies, leading consultants, pension plans, funds of funds and family offices. Eaton Partners served as global placement agent for the fund while DLA Piper served as fund counsel.

PRESS RELEASE

BETHESDA, Md., March 30, 2022 /PRNewswire/ — Hull Street Energy, LLC (“Hull Street Energy”), the Washington D.C. area-based energy transition investment firm, today announced the final closing of its second institutional fund, Hull Street Energy Partners II, L.P. (the “Fund”). The Fund, which targets investments in the North American power sector as the economy electrifies and decarbonizes, was oversubscribed and closed at its hard cap of $1.125 billion. Hull Street Energy received strong interest from a diverse and highly regarded group of institutional investors, including endowments, foundations, insurance companies, leading consultants, pension plans, funds of funds and family offices.

Hull Street Energy is composed of a long-standing investment team including Sarah Wright, Michael Booth, Mark Orman, Matthew Willis, Steve Morris, David Meeker, Kevin Telford, and Scott Hofmeister. The firm is differentiated by its deep understanding of local and regional physical electricity markets and grid operations, and its highly quantitative approach to evaluating and managing power sector assets and businesses.

Hull Street Energy targets undermanaged middle-market electricity businesses. Its first fund is fully deployed, having acquired an attractive portfolio of hydroelectric assets, thermal power plants, and solar projects throughout the U.S. In January of this year, the Fund made its inaugural capital commitment to SunGrid Solutions, a growing Battery Energy Solutions Service (BESS) company.

Eaton Partners served as global placement agent for the Fund and DLA Piper served as fund counsel.

About Hull Street Energy
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals, and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.