LPs have sued to block EMG's alleged "conflicted sale" of Ohio's largest oil and gas producer into a continuation fund in a public and rare secondary market dispute.
The single-asset continuation fund was reportedly backed by the California Public Employees' Retirement System, Partners Capital, and Caltech.
The Connecticut-based manager specializes in energy infrastructure investments, including renewable power generation, battery storage, and midstream and downstream assets.
Osler examines key legal, regulatory, pricing, and conflict management considerations for sponsors and investors in GP-led transactions.
Hamilton Lane and Lead Edge are reportedly leading the continuation fund, with CPP Investments committing $50 million to the vehicle.
The single-asset CV was executed alongside the sale of a 50% stake in the Peruvian power generation company to CPP Investments.
The pension committed to selling its full interests in several EnCap-managed funds to reduce commodity exposure and diversify away from energy.
The ruling on a contentious process for Ohio's largest oil & gas producer ends a rare public dispute between LPs and a sponsor.
The single-asset vehicle extends the infrastructure specialist's hold on a Peruvian private power generation company.
New developments emerge on EMG's proposed continuation fund process for Ohio's largest natural gas and oil producer.
