Kirkland Represents Captona on Joint Venture with UBS Asset Management for Investment in Battery Storage Portfolio
Kirkland & Ellis advised Captona, a leading North America-focused investment company dedicated to the energy transition and decarbonization, and its equity partner on a joint venture with UBS Asset Management's Real Estate & Private Markets business to invest in a portfolio of four utility-scale battery energy storage projects in Texas. Previously acquired by UBS Asset Management, the projects total 728 MW and 1.06 GWh. This preferred equity investment assists UBS Asset Management in optimizing the value of their tax credits without the need for a traditional tax equity partnership. The transaction builds on each party's expertise financing clean energy projects, demonstrates the benefit of Captona's preferred equity investment strategy and showcases UBS Asset Management's comprehensive development of the energy storage projects.
The Kirkland team was led by corporate partner Allan Kirk and associate Brittany Scheier and tax partner Sam Kamyans and associate Amirali Azinfar.
