Hybrid Capital Solutions

Structured Equity

• Brookfield Infrastructure Partners in its $30 billion joint venture with Intel Corp. (Nasdaq: INTC) to jointly fund Intel’s under-construction semiconductor fabrication facility in Chandler, Arizona
• Blackstone in its CDN$7 billion acquisition of a minority stake in a subsidiary of Rogers Communications formed to own Rogers’ wireless backhaul network in Ontario and Alberta
• KKR in its agreement with NextEra Energy Partners (NYSE: NEP) to acquire a $900 million equity interest in a newly formed partnership with NEP
• EQT Corporation (NYSE: EQT) on a definitive agreement with Blackstone Credit & Insurance to form a new midstream joint venture consisting of EQT’s ownership interest in Mountain Valley Pipeline

Preferred Equity

• Bain Capital, as lead investor, in the $2.1 billion capital raise for Acrisure, a provider of fintech
• Ares Management, alongside Public Investment Fund PIF, in its £400 million preferred equity investment in McLaren Group, a luxury automotive, motorsport and technology company
• Greenoaks in a minority investment with Coupang in the acquisition of Farfetch (NYSE: FTCH), an online luxury company
• Macquarie Asset Management in its investment in Pavlov Media, a provider of fiber-based internet connectivity to off-campus student housing

Private Credit

• Oaktree Capital Management on a $160 million senior secured debt facility to B. Riley Financial, Inc. (Nasdaq: RILY) to retire outstanding debt under its credit agreement and for working capital purposes
• Bedrock Industries Management Co. on providing a five-year $150 million debt and structured equity financing for Aymium
• Blackstone Energy Partners in its financing commitment to support Xpansiv, a market-infrastructure platform for global carbon and environmental commodities
• Fortress Investment Group in its term loan financing and related restructuring (through an assignment for the benefit of creditors) of Theranos