Investment Summary

Global Atlantic Financial Group Invests In Southern - Solar Portfolio

On May 23, 2018, Global Atlantic Financial Group invested in renewable energy company Southern - Solar Portfolio from Southern

Investment Highlights
  • This is Global Atlantic Financial Group’s 1st transaction in the Renewable Energy sector.
  • This is Global Atlantic Financial Group’s 2nd transaction in the United States.
  • This is Global Atlantic Financial Group’s 1st transaction in Georgia.

Investment Summary
Date 2018-05-23
Target Southern - Solar Portfolio
Sector Renewable Energy
Investor(s) Global Atlantic Financial Group
Sellers(s) Southern
Deal Type Stake Purchase

Target

Southern - Solar Portfolio

Atlanta, Georgia, United States
Southern Co. - Solar Portfolio of projects involved in this transaction is comprised of 26 operating solar facilities representing approximately 1.7 gigawatts of capacity. The energy from these facilities is sold under long-term contracts with valued customers across the country.

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Investor(S) 1

Investor

Global Atlantic Financial Group

New York, New York, United States
Category Company
Founded 2004
Sector Insurance
DESCRIPTION

Global Atlantic Financial Group is a multiline insurance and reinsurance company that serves more than two million policyholders through its retirement and life insurance products. Global Atlantic was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 3 of 5
Sector (Renewable Energy) 1 of 1
Type (Stake Purchase) 1 of 1
State (Georgia) 1 of 1
Country (United States) 2 of 4
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-02 Forethought Financial Group

Houston, Texas, United States

Forethought Financial serves the United States’ funeral planning professionals with marketing support for Forethought funeral plans funded by life insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Talcott Resolution

Windsor, Connecticut, United States

Talcott Resolution is an insurance company with capabilities including extensive life insurance and annuity product knowledge and rigorous risk and liability management. Talcott's primary blocks of business are variable annuities, fixed annuities, structured settlements, and corporate-owned life insurance. Talcott Resolution is based in Windsor, Connecticut.

Buy -

Seller(S) 1

SELLER

Southern

Atlanta, Georgia, United States
Category Company
Founded 1945
Sector Utilities
Employees27,819
Revenue 25.3B USD (2023)
DESCRIPTION

Southern is a premier energy company serving the Southeast through its subsidiaries. A U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern was founded in 1945 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 4 of 6
Sector (Renewable Energy) 2 of 2
Type (Stake Purchase) 1 of 1
State (Georgia) 1 of 1
Country (United States) 4 of 6
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-21 Southern - Florida Assets

Florida, United States

Southern Co. - Florida Assets include Gulf Power Company and the entities holding Southern Power's interests in Plant Oleander and Plant Stanton provide customer-focused business models and strong commitments to safety, reliability, customer service and community engagement.

Sell $6.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 Mankato Energy Center

Mankato, Minnesota, United States

Mankato Energy Center LLC is a natural gas combined-cycle generation facility, will have a maximum capacity of approximately 760 megawatts upon completion of an ongoing expansion project. The completion of the sale, subject to regulatory approval and other closing conditions, is expected to be mid-2019.

Sell $650M
Mergr

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