"This investment reflects our conviction in the sector and the strength of our Secondaries platform in providing flexible capital solutions," said Jamie Sunday, Co-Head of RE Secondaries at Ares.
The deal valued the San Francisco-based software company at $2.5 billion, with Accel and 01A participating alongside new investors Salesforce Ventures and S32.
The direct secondaries deal gives the French manager full ownership of the 460 MW Horse Creek and Electra wind farms in Texas, which it has backed since 2018.