Kirkland Advises TPG on Investment in Crusoe’s $3.9 Billion Series F for its Vertically Integrated AI Infrastructure Platform

Kirkland & Ellis advised TPG on its investment in Crusoe, the industry’s first vertically integrated AI infrastructure provider. Crusoe’s anticipated $3.9 billion Series F funding round reached initial close on September 17, 2026, at a $30.9 billion post-money valuation. The oversubscribed round was co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, alongside TPG and other new and existing investors including Founders Fund, GIC, NVIDIA, Qatar Investment Authority and Radical Ventures. The round supports Crusoe's scaling of existing programs and build out of its next generation AI infrastructure.

Read the transaction press release

The Kirkland team included corporate lawyers Kristin Mendoza, Adam Phillips, Chris Turek, Kemal Hawa, Mohammed Banjari and Joseph Kunnirickal; and energy regulatory lawyers Erin Bartlett and Cassidy Hall.