Bethesda’s Hill Street Energy Closes $1.125 Billion Institutional Fund

Hull Street Energy is a private equity firm, based in Bethesda, that specializes in deploying capital into the power sector as it decarbonizes.

Late last month the private equity firm announced that it closed on a $1.125 billion institutional fund. The full announcement can be seen below:

Hull Street Energy, LLC (“Hull Street Energy”), the Washington D.C. area-based energy transition investment firm, today announced the final closing of its second institutional fund, Hull Street Energy Partners II, L.P. (the “Fund”). The Fund, which targets investments in the North American power sector as the economy electrifies and decarbonizes, was oversubscribed and closed at its hard cap of $1.125 billion. Hull Street Energy received strong interest from a diverse and highly regarded group of institutional investors, including endowments, foundations, insurance companies, leading consultants, pension plans, funds of funds and family offices.

Hull Street Energy is composed of a long-standing investment team including Sarah Wright, Michael Booth, Mark Orman, Matthew Willis, Steve Morris, David Meeker, Kevin Telford, and Scott Hofmeister. The firm is differentiated by its deep understanding of local and regional physical electricity markets and grid operations, and its highly quantitative approach to evaluating and managing power sector assets and businesses.

Hull Street Energy targets undermanaged middle-market electricity businesses. Its first fund is fully deployed, having acquired an attractive portfolio of hydroelectric assets, thermal power plants, and solar projects throughout the U.S. In January of this year, the Fund made its inaugural capital commitment to SunGrid Solutions, a growing Battery Energy Solutions Service (BESS) company.

Eaton Partners served as global placement agent for the Fund and DLA Piper served as fund counsel.

 

For further information about Hull Street Energy, please see www.hullstreetenergy.com.

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