King & Wood Mallesons (KWM) has advised leading alternative investment firm Stonepeak on acquiring a preferred equity interest in AGP Sustainable Real Assets (AGP). AGP invests in, develops and operates sustainable real assets across renewable energy, infrastructure and communities, and natural capital.
With Stonepeak specialising in infrastructure and real assets, the strategic partnership with AGP will provide Stonepeak with the opportunity to invest across new markets and sectors around the world with a trusted local partner.
The investment seeks to integrate energy and community infrastructure, developing innovative sustainable solutions that meet Australia’s renewable energy targets and the needs of an evolving society.
KWM’s role in the deal involved providing advice and due diligence on the Australian aspects of the transaction, working with Sidley Austin LLP as Stonepeak’s legal counsel. The Sidley Austin team were based out of the Singapore office.
A multi-disciplinary KWM team was led by Partner Roderick Smythe with support from Senior Associate Aaron Brooks and Solicitors Morgan Clune, Miranda Hutchesson and Eugenia Munoz on all Energy related matters
A number of specialist teams were also involved in energy transition work including Partner Michelle Astridge and Special Counsel Trudy Sheehan (Planning), Partner Steve Swan, Senior Associate Nicole Morris and Solicitor Amy Sciffer (Construction), Partner Angela Weber and Solicitor Jade Costigan (Employment), Partner Intan Eow, Senior Associate Eveline Kuang and Solicitor Wenkai Lyu (FIRB), Senior Associate Emma Newnham and Solicitor Stephen Catros (ESG), Partner Kate Jackson-Maynes and Senior Associate Sam Farrell (Financial Regulation).
Commenting on the deal, Partner Roderick Smythe said:
“It was a pleasure to work with Stonepeak again on this important investment for the Australian energy sector. We hope that this partnership between Stonepeak and AGP will assist in building assets that lead to a sustainable and net zero emissions future.”
KWM continues to advise clients on market leading transactions that contribute to Australia’s energy transition and recently advised Telstra on a power purchase agreement with Munna Creek Solar Farm in Queensland.
