DLA Piper advised Hull Street Energy, LLC (“HSE”), a prominent energy transition investment firm, in the successful closing of Hull Street Energy Partners III, L.P. (“Fund III”). The oversubscribed fund, targeting middle-market investments in the North American power sector amid ongoing decarbonization and electrification of the economy, secured total commitments of approximately US$2.2 billion.
Fund III made its first investment late last year, acquiring 300 megawatts of critical power generation capacity in New York. It has also entered into an agreement to acquire certain assets in the Midwest and has begun developing a one gigawatt gas-fired peaker project in Texas in association with the Texas Energy Fund.
“We were pleased to advise HSE on the successful closing of this oversubscribed fund, highlighting the strength and experience of our investment funds team in the energy transition sector,” said Adam Tope, the DLA Piper partner who led the deal team.
In addition to Tope (New York), the DLA Piper team included partner Witold Jurewicz (New York); of counsel Meghan Carey (Washington, DC); and associates Henry Minor and Tucker Golay (both in New York).
