Latham & Watkins Advises Avenue Capital Group in US$2.2 Billion Energy Transition-Focused Asset Sale to Partners Group

Avenue Capital Group, a global investment firm, announced that it has agreed to sell a portfolio of energy transition-focused assets in California from the Avenue Golden Continuation Fund, L.P., a fund managed by Avenue and operated by Middle River Power, to Partners Group at a US$2.2 billion enterprise value. The Avenue Golden Fund’s portfolio being sold to Partners Group include 11 critical natural gas-fired power plants, including nine simple-cycle peaking facilities and two combined-cycle gas turbine plants.

Latham & Watkins LLP represents Avenue Capital Group in the transaction with a corporate deal team led by New York partner Paul Kukish and New York counsel Alyssa Galinsky. Advice was provided on energy regulatory matters by Washington, D.C. partners Natasha Gianvecchio and Tyler Brown; on project finance matters by New York partner Chirag Dedania; and on tax matters by New York partner Matthew Dewitz.