Latham & Watkins Advises ECP on US$834 Million Continuation Vehicle for Next Wave Energy Partners

Energy Capital Partners (ECP), a leading investment firm across energy transition infrastructure and part of Bridgepoint Group (LSE: BPT), announced the successful closing of a single-asset continuation vehicle with US$834 million in capital commitments for Next Wave Energy Partners, LP. The continuation vehicle is anchored by GCM Grosvenor, Phoenix Insurance, Ardian, StepStone, and North Hudson Resource Partners, alongside new and returning limited partners and provides ECP IV investors with the opportunity to fully monetize their stake in Next Wave while enabling new investors to invest in the company. As part of this transaction, ECP will reinvest its proceeds into the continuation vehicle, reflecting its continued conviction in Next Wave.

Latham & Watkins LLP represented ECP in the transaction with an Investment Funds team led by Washington, D.C. partner Amy Rigdon and New York partners John Kelley and Rob Emerson, with associates Mariela Cisneros, Dan Bogdan, Rafael Chapman, and Michael Gordon. New York partner David Kurzweil and counsel Richard Quay, with associates Bridget O’Connell and Ebenezer Abaidoo, advised on M&A matters; New York partner Michael Milazzo, with associates Nicholas Sun and Ethan Lee, advised on tax matters; and Washington, D.C. partners David Della Rocca and Nikhil Kumar advised on employment and benefits matters.