Kirkland Advises Apollo on Investment in Broad Reach Power
Kirkland & Ellis counseled Apollo (NYSE: APO) on its agreement to use funds managed by Apollo affiliates to acquire a 50 percent stake in Broad Reach Power LLC, a leading utility-scale energy storage and renewable energy platform in the United States. The Apollo Funds will acquire the stake from existing investor EnCap Investments L.P. and its co-investment partners Yorktown Partners and Mercuria Energy. EnCap and its co-investment partners will retain the other 50 percent stake and, together with the Apollo Funds, commit to invest up to $400 million of additional equity to fund Broad Reach’s continued expansion and growth pipeline.
The Kirkland team was led by corporate partners Adam Larson and Cy Jones and associate Fernanda Langa; tax partners Mark Dundon and Joe Tobias; and energy regulatory partners Brooksany Barrowes and Marcia Hook.
