In a landmark move for the private equity sector, the legal expertise of Kirkland & Ellis has been instrumental in guiding Greenbelt Capital Partners through the successful close of its debut fund, Greenbelt Capital Partners III L.P., which secured a hefty $1 billion. This figure not only met but surpassed the initial target of $750 million, reaching the firm’s hard cap with remarkable speed.

Based in Austin, Texas, Greenbelt Capital has carved out a niche in the investment landscape, focusing on energizing middle-market companies that are steering the energy and power sectors towards a cleaner, more resilient future. The fund has attracted a robust mix of institutional investors from across the globe, including North America, Europe, and the Asia-Pacific region. Among these are major pension plans, sovereign wealth funds, insurance companies, and foundations, all eager to contribute to this promising venture.

The brains behind Greenbelt Capital, Chris Manning and Glenn Jacobson, are no strangers to the energy and infrastructure sectors. With a combined experience of over two decades and more than $6 billion in equity investments, their profound industry insight and vast network have been pivotal in the fund’s strategy and execution. The duo expressed gratitude for the overwhelming support from their investors, emphasizing their shared vision for building pivotal and commercially viable businesses within the energy and infrastructure landscapes.

Jacobson highlighted the unique positioning of their team at the convergence of several critical megatrends, such as grid modernization, power generation, digital infrastructure, industrial electrification, and energy efficiency. He passionately shared their mission to drive a sustainable and carbon-competitive future by supporting commercial leaders at the forefront of innovation and economic growth.

With the Fund III now closed, Greenbelt Capital is managing approximately $2.5 billion in assets and is actively scouting for new investment opportunities that align with its strategic focus areas.

The legal prowess backing this significant transaction was provided by Kirkland's adept team, including investment funds attorneys Laura Stake, Matt Nadworny, and Devon Salge, alongside tax partners Steve Butler and Dion Toledo, and corporate lawyer Shubi Arora.

Greenbelt Capital Partners continues to set its sights on advancing the New Energy Economy, targeting substantial investments in sectors like solar, storage, EV infrastructure, and grid modernization, which are pivotal for the evolving energy landscape.

Meanwhile, Kirkland & Ellis remains a beacon of excellence in the global legal arena, renowned for its strategic prowess in M&A, corporate law, and private equity, among other areas. This successful fund close further cements its reputation as a top-tier advisor capable of navigating complex transactions in the dynamic financial world.