Hull Street Energy, LLC, a Bethesda, Maryland-based private equity firm, closed Hull Street Energy Partners I, L.P., including parallel funds and co-investment vehicles, at over $500m.
HSE received interest from a diverse, highly regarded group of institutional investors that includes endowments and foundations, insurance companies, leading consultants, corporate pension plans, funds of funds and family offices.
Including existing supplemental co-investment allocations, the firm has sourced a total of over $700m for the Fund’s investment program.
The fund will invest in the North American power sector as the grid evolves to a more sustainable footprint.
Concurrent with fundraising, the vehicle and its investors acquired 21 power plants in the Northeast, Mid-Atlantic, and Midwestern United States, including renewable and strategically positioned gas fired power plants, which are managed through the Fund’s portfolio companies Central Rivers Power and Milepost Power Holdings.
Led by Sarah Wright, Michael Booth, Mark Orman, Matthew Willis, Steve Morris and David Meeker, Hull Street Energy is a private equity firm that acquires, optimizes and grows middle market power businesses through the application of risk management, efficiency enhancements and contract structuring.