NEW YORK, March 27, 2015 (GLOBE NEWSWIRE) -- Global Infrastructure Partners (GIP), a leading independent global infrastructure investor, announced today that its second fund, Global Infrastructure Partners II, has agreed to acquire the principal holdings of Competitive Power Ventures (CPV). The transaction includes equity interests in a portfolio of power generation projects, as well as CPV's development and asset management platforms. CPV's management team will continue to lead the business and develop value-added investment opportunities in the U.S. power sector.
The transaction is expected to close in the second quarter of 2015.
Commenting on the transaction, Adebayo Ogunlesi, Chairman and Managing Partner of GIP said, "This transaction combines a portfolio of high quality power projects with an experienced management team that has an outstanding track record in independent power development and asset management. We look forward to working with CPV's management to develop further attractive investment opportunities in power generation infrastructure."
About Global Infrastructure Partners
Global Infrastructure Partners (GIP) is an independent infrastructure fund that invests worldwide in infrastructure assets and businesses in both OECD and select emerging market countries. GIP targets investments in single assets and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management. GIP has offices in New York and London, with an affiliate in Sydney and portfolio company operations headquarters in Stamford, Connecticut. For more information, visit www.global-infra.com.
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Source:Global Infrastructure Partners