Longroad Energy

Overview

Deal Type Mergers & Acquisitions
Size $500 Million
Client & Transactional Partners Longroad Energy; MEAG; NZ Super Fund; Infratil
Our Role Sell-Side Advisor

Summary

KeyBanc Capital Markets (KBCM) served as Sell-Side Advisor to Longroad Energy (the Company) on a $500 million equity investment from MEAG, the asset management arm of Munich Re, alongside two of the company’s existing investors, the NZ Super Fund, and Infratil. The investment will support the Company’s strategic shift from a primarily “develop to sell” business model to one that is oriented towards ownership and will accelerate the expansion of its current 1.5 GW portfolio of owned assets to 8.5 GW of wind, solar, and storage projects over the next five years. The transaction closed in October 2022.

MEAG manages approximately €330 billion of assets for insurance companies Munich Re and ERGO. MEAG’s most recent infrastructure investments in the U.S. include 400 MW of solar and battery storage projects in California in 2021, various regulated U.S. water assets in 2020, as well as New York’s Astoria Energy Partners and Long Beach Container Terminal in 2019.

Founded in 2016, Longroad Energy Holdings, LLC is focused on wind, solar, and energy storage project development and operation. Today, Longroad owns 1.5 GW of renewable energy projects across the United States and manages a total of 3.5 GW of wind and solar projects on behalf of Longroad and third parties. Upon closing this transaction, Longroad will be owned by the NZ Super Fund, Infratil Limited, MEAG, and Longroad Energy Partners, LLC.

Recent Deals

November 2022

Mount Union Senior Lofts

$20MM

Construction loan & LIHTC equity

Construction
Low Income Housing Tax Credits

mount-union-senior-lofts
November 2022

has affiliated with

a portfolio company of

 

Sell-Side Advisor

Healthcare Investment Banking

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October 2022

The Heron apartments

$20 Million

High Leverage Bridge Loan

Bridge

the-heron-apartments
October 2022

has received a $500 million equity investment from

 

 

$500 Million

Sell-Side Advisor

Mergers & Acquisitions

longroad-energy
October 2022

has been acquired by

 

$185 Million

Exclusive Sell-Side Advisor

Mergers & Acquisitions

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October 2022

Caesars Entertainment 

$3 Billion

Senior Secured Credit Facilities

Syndication Agent

Debt Capital Markets

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October 2022

Richland Marketplace

 

$16.79 Million

Acquisition

Lender

Life Company

richland-marketplace
September 2022

 

$90 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

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September 2022

Marylhurst Commons

$58.7 Million

Construction
Freddie Mac
Low Income Housing Tax Credits

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September 2022

 

$153 Million

Commercial Property Assessed Clean Energy Financing

Structuring Agent

Debt Capital Markets

black-desert-resort
September 2022

 

$260 Million

First Mortgage Bonds

Joint Lead Placement Agent

Private Placement

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September 2022

Southern Col MidCo, LLC

$170 Million

Senior Secured Notes

Joint Lead Placement Agent

Private Placement

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September 2022

 

$130 Million

First Mortgage Bonds

Joint Lead Placement Agent

Private Placement

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September 2022

Northern States Power Company (a Wisconsin Corporation)

$100 Million

First Mortgage Bonds

Sole Placement Agent

Private Placement

northern-states-power-company
September 2022

$600 Million

Delayed Draw Term Loan

$700 Million

Bridge Revolver

Joint Lead Arranger
Joint Bookrunner

Debt Capital Markets

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September 2022

Welltower 

$750 Million

Unitranche Joint Venture

First mortgage financing available for seniors housing & skilled nursing facilities

welltower-1
September 2022

Welltower 

$5.2 Billion

Senior Unsecured Credit Facility

Joint Lead Arranger
Administrative Agent

welltower

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