Quinbrook completes $600m continuation fund for large-scale solar and storage assets

• The continuation fund has acquired 51 percent of the Gemini Solar + Storage project and 100 percent of the remaining Valley of Fire project development portfolio from the LCPF and certain other equity holders
• PJT Partners LP acted as the lead financial advisor on the transaction
• Quinbrook is focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia

Quinbrook Infrastructure Partners raised $600 million for a continuation fund for the firm’s large-scale solar and storage strategy of Quinbrook’s low-carbon power fund which closed in 2019.

Blackstone Strategic Partners is the lead investor in the Quinbrook Valley of Fire Fund.

The continuation fund has acquired 51 percent of the Gemini Solar + Storage project and 100 percent of the remaining Valley of Fire project development portfolio from the LCPF and certain other equity holders.

“This successful closing underscores Quinbrook’s commitment to impactful renewable energy project development and new asset creation and its track record of pursuing strategies that seek to optimize returns for investors wanting differentiated exposure to the energy transition,” said Rory Quinlan, co-founder and managing partner of Quinbrook Infrastructure Partners in a statement. “The decision to pursue a GP-led secondary transaction reflects our commitment to enhancing value for our LPs, while continuing to support the development of a distinct portfolio of landmark renewables assets.”

Gemini is a solar and storage project based outside of Las Vegas.

PJT Partners LP acted as the lead financial advisor on the transaction. Kirkland & Ellis LLP served as legal counsel to Quinbrook, while Proskauer Rose LLP served as legal counsel to Blackstone Strategic Partners.

Quinbrook is focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia.