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M&A Deal Summary

CPP Investments Acquires Pattern Energy Group

On November 4, 2019, pension CPP Investments acquired renewable energy company Pattern Energy Group for 6.1B USD

Acquisition Highlights
  • This is CPP Investments’ 2nd transaction in the Renewable Energy sector.
  • This is CPP Investments’ 8th largest (disclosed) transaction.
  • This is CPP Investments’ 21st transaction in the United States.
  • This is CPP Investments’ 5th transaction in California.

M&A Deal Summary
Date 2019-11-04
Target Pattern Energy Group
Sector Renewable Energy
Buyer(s) CPP Investments
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 6.1B USD
Advisor(s) Evercore Group
Goldman Sachs (Financial)

Target

Pattern Energy Group

San Francisco, California, United States
Pattern Energy Group LP owns and operates renewable energy facilities. Pattern Energy business is built around three core values of creative energy and spirit, the pride of ownership and follow-through, and a team-first attitude, which guide us in creating a safe, high-integrity work environment, applying rigorous analysis to all aspects of business, and proactively working with our stakeholders to address environmental and community concerns.

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Buyer(S) 1

Buyer

CPP Investments

Investor Investor Investor Investor Investor

Category Pension
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.

DEAL STATS #
Overall 41 of 80
Sector: Renewable Energy M&A 2 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 14
State: California M&A 5 of 15
Country: United States M&A 21 of 40
Year: 2019 M&A 7 of 8
Size (of disclosed) 8 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-01 Fangdd

Shenzhen, China

Fangdd is a real estate e-commerce platform that facilitates new- and secondary-home sales in China. Fangdd was founded in 2011 and is headquartered in Shenzhen, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 IDEAL

Mexico City, Mexico

IDEAL engages in development, promotion, operation, and administration of infrastructure projects in Mexico and Latin America. IDEAL was founded in 2005 and is based in Mexico City, Mexico.

Buy -
Mergr

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