Investment Summary

Exits Masspower

On January 25, 2005, invested in utilities company Masspower from Ares Private Equity Group – EIF

Investment Highlights
  • This is transaction in the Utilities sector.
  • This is transaction in the United States.
  • This is transaction in Massachusetts.

Investment Summary
Date 2005-01-25
Target Masspower
Sector Utilities
Sellers(s) Ares Private Equity Group – EIF
Deal Type Trade Sale

Target

Masspower

Springfield, Massachusetts, United States
MASSPOWER is a 270 MW gas-fired, combined cycle cogeneration facility located in Springfield, Massachusetts.

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Seller(S) 1

SELLER

Ares Private Equity Group – EIF

Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 5.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Ares EIF is the direct energy investment arm of asset management firm, Ares Management. Ares EIF operates within Ares Private Equity Group and focuses exclusively on energy related investments. Specific areas of interest include electricity generating, transmission, and energy services assets; energy and utility company ownership interests; and utility service deployment investments. The Firm is a hands-on investor, and looks for ways to unlock value post acquisition. Ares EIF's geographic preference is for US based opportunities. Ares EIF was formed in 1987 and was acquired by Ares Management in 2014.

DEAL STATS #
Overall 1 of 11
Sector (Utilities) 1 of 9
Type (Trade Sale) 1 of 6
State (Massachusetts) 1 of 1
Country (United States) 1 of 11
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-19 Hamakua Energy Partners

Honakaa, Hawaii, United States

Hamakua is 60 MW low-sulfur naphtha plant located in Honakaa on the big island of Hawaii. The plant has been in commercial operation since 2000 and sells power to the Hawaiian Electric Light Company under a power sales contract and purchase agreement.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-29 Neptune Regional Transmission System

Fairfield, Connecticut, United States

Neptune Regional Transmission System is a power transmission cable that connects New Jersey and Long Island. Neptune provides up to 660 MW of power to Long Island electricity consumers – enough for 600,000 homes — and supplies more than 20 percent of Long Island’s typical electricity demand. Neptune Regional Transmission System is based in Fairfield, Connecticut.

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