15 May 2017
Terra Firma completes the sale of the Infinis Group’s onshore wind assets to Institutional Investors Advised by J.P. Morgan Asset Management, concluding the sale of all of the Infinis Group’s operating assets
Terra Firma has today announced the completion of the sale of the Infinis Group’s onshore wind assets to institutional investors advised by J.P. Morgan Asset Management. The Infinis Group’s onshore wind portfolio is one of the largest independently owned operating wind portfolios in the UK. The portfolio has 409 MW generating capacity across 20 sites including a new 66MW site that became fully operational in February 2017.
This transaction follows the closing of the sale of the Infinis Group’s landfill gas assets to 3i Infrastructure plc in December 2016, and concludes Terra Firma's sale of all of the Infinis Group’s operating assets.*
Guy Hands, Chairman and Chief Investment Officer of Terra Firma, said:
“Today's completion enables us to fully realise one of our most successful investments and demonstrates how we can bring unique insight on where value exists.
“We developed Infinis from a non-core and largely outsourced unit within a waste management company into one of the UK’s leading independent renewable power generation companies.
“Furthermore, this successful exit, achieved in spite of challenging regulatory and market conditions, shows how Terra Firma’s tenacity and creativity delivers exceptional value for our investors.”
Matthew LeBlanc, Managing Director, J.P. Morgan Asset Management, said:
"We are delighted to acquire the onshore operational wind interests of the Infinis Group's UK wind portfolio from Terra Firma. The acquisition continues our investment momentum in renewables, complementing the existing investment base, and increases our renewables energy production capacity to over 3,200 MW. We are excited to partner with the management team and our other renewables businesses to continue to grow a truly pan-European renewables independent power producer."
Terra Firma was advised by Goldman Sachs International and RBC Capital Markets on the sale of the Infinis Group’s onshore wind assets.
*The Infinis Group retains a number of assets in the development phase, which it will look to sell in due course.
About Terra Firma
Founded by Guy Hands in 1994, Terra Firma is one of Europe’s leading private equity firms. Terra Firma specialises in the acquisition and fundamental transformation of asset-backed businesses, focusing on investments in transformational private equity, operational real estate andinfrastructure. Since 1994, Terra Firma has invested over €16 billion of equity and completed transactions with an aggregate enterprise value of €48 billion.
+44 (0)20 7251 3801
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $120 billion in assets under management and over 800 professionals (as of December 31, 2016), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives.
For more information: jpmorganassetmanagement.com
Charlotte Powell, Media Relations
+44 (0)20 7742 2112