Kirkland Advises GCM Grosvenor on $189 Million Divestment of Equity Interest in Long Ridge Energy & Power

Kirkland & Ellis advised GCM Grosvenor (Nasdaq: GCMG), a global leader in alternative investments, on the divestiture of its 49.9% equity interest in Long Ridge Energy & Power to FTAI Infrastructure (Nasdaq: FIP). As consideration therefore, Long Ridge Energy & Power issued a $20 million promissory note to an affiliate of GCM, FTAI Infrastructure paid aggregate cash consideration of $9 million to GCM and FTAI Infrastructure issued 160,000 shares of a newly designated series of Series B convertible junior preferred stock with an initial aggregate value of $160 million to certain affiliates of GCM. The transaction closed on February 26, 2025.

The Kirkland team included corporate lawyers John Pitts and Gabrielle Sumich; capital markets lawyers Matt Pacey and Sara Lampert; tax lawyers Mark Dundon and David Morris; debt finance lawyer Lucas Spivey; and energy regulatory lawyer Brooksany Barrowes.