An investor group comprising APG, the California State Teachers’ Retirement System and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) supported the formation of Arevon Energy, a new clean energy infrastructure firm.
Arevon Energy is formed by the combination of Capital Dynamics U.S. clean energy infrastructure team and Arevon Asset Management. The institutions backing the new entity will own the new firm along with Capital Dynamics.
John Breckenridge, previously a senior managing director and head of clean energy infrastructure at Capital Dynamics, will lead Arevon Energy as CEO.
“I am deeply proud of what we have built over the past seven years at Capital Dynamics,” said Breckenridge. “During that time, the CEI team has become one of the largest renewable energy investment managers in the world with one of the longest track records in the industry. Establishing this platform is a natural progression for Arevon and positions it well for the next stage of growth in the renewable energy sector.”
Arevon will support a standalone clean energy platform of 4.5 GW of operating, under construction, and late-stage development solar and battery storage projects as well as a 3.0 GW pipeline. The transaction is subject to regulatory approvals and is expected to close by early 2022.
“Clean energy investments are an important initiative for this investor group, and we believe this transaction, which provides them with a specialized, dedicated energy management platform, greatly benefits our valued partners,” said Chief Executive Officer of Capital Dynamics Martin Hahn. “We will continue accelerating the clean energy transition in the U.S. and Europe through our global Clean Energy Infrastructure platform, where our talented team continues to generate attractive investment opportunities for our clients.”