NEW
YORK, Oct. 31, 2024 /PRNewswire/ -- HPS
Investment Partners and Enhanced Capital announced today the launch
of a new partnership between funds managed by HPS Investment
Partners and Enhanced Capital that will provide structured capital
solutions for renewable energy and battery energy storage projects
throughout the United States.
These investments will provide catalytic capital to energy
transition projects while simplifying the monetization of renewable
energy tax credits without the need for complex tax equity
structures.
The Inflation Reduction Act (IRA) passed in 2022 contained
several provisions aimed at improving access to capital and
reducing barriers to the deployment of renewable energy and energy
storage assets to support economy-wide decarbonization goals. As
part of the legislation, Investment Tax Credits and Production Tax
Credits became eligible for a one-time transfer to third parties,
creating a new avenue to monetize tax credits outside of tax equity
financings. The new platform combines HPS Investment Partners'
track record of investing in renewable energy and infrastructure
businesses and assets with Enhanced Capital's expertise in tax
credit structuring and monetization.
"We are pleased to partner with Enhanced Capital to offer
comprehensive capital solutions for developers who are actively
enabling the energy transition across the country," said
Michael Dorenfeld, Managing Director
at HPS Investment Partners. "With this commitment, we are bringing
together HPS credit investment expertise with Enhanced Capital's
capabilities accessing and funding tax credits across
industries."
"For over two decades, Enhanced Capital has been financing
projects with immediate and lasting impacts on communities and the
environment," said Ed Rossier,
Managing Director at Enhanced Capital. "The HPS partnership will
significantly expand our renewable energy and battery storage
financing for developers across the country."
About HPS Partners
HPS Investment Partners, LLC is a leading global, credit-focused
alternative investment firm that seeks to provide creative capital
solutions in order to generate attractive risk-adjusted returns for
our clients. HPS manages various strategies across the
capital structure, including privately negotiated senior debt;
privately negotiated junior capital solutions in debt, preferred
equity and equity formats; liquid credit including syndicated
leveraged loans, collateralized loan obligations and high yield
bonds; asset-based finance and real estate. The scale and
breadth of HPS's platform offer the flexibility to invest in
companies large and small, through standard or customized
solutions. HPS has approximately $117
billion of assets under management as of June 2024.
For more information, please visit www.hpspartners.com.
About Enhanced Capital
Enhanced Capital Group, LLC is a leading impact investment firm
with over 24 years of experience investing in Climate Finance,
Impact Real Estate, and Small Business Lending.
From inception in 1999 through June 30th,
2024, inclusive of proprietary assets and assets managed by
affiliates, Enhanced Capital has raised a total of $6.0 billion. Of the total assets under
management, impact assets represent $3.8
billion invested in over 950 projects and businesses
throughout 40 states, Washington
DC, and Puerto Rico and
does not include investments made by non-impact affiliates.
Enhanced Capital is committed to investing in four main impact
themes: Underserved Communities; Underrepresented Populations;
Environmental Sustainability; and Community Development Programs.
Enhanced Capital is a subsidiary of P10, Inc. (NYSE: PX), a
diversified, multi-asset investment platform. For more information,
please visit https://enhancedcapital.com.
Enhanced Capital Disclaimer
Enhanced Capital Group, LLC, and its affiliates, is an Equal
Opportunity Provider. The information presented is for discussion
purposes only and is neither an offer to sell nor a solicitation of
any offer to buy any securities, investment product, or investment
advisory services. This is not an offering or the solicitation of
an offer to purchase an interest in a fund.
CONTACT: info@enhancedcaptial.com
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SOURCE Enhanced Capital
