Capital Dynamics has spun off its US clean energy infrastructure team members to APG, the California State Teachers’ Retirement System (CalSTRS) and Abu Dhabi Investment Authority (ADIA) to form a new business.

Capital Dynamics said members of its US Clean Energy Infrastructure (CEI) team, will combine with its Arevon Asset Management business to form Arevon Energy. APG, CalSTRS and ADIA have been long-standing investors with Capital Dynamics and will own the new business.

Arevon Energy will support a standalone clean energy platform of 4.5GW of operating, under construction, and late-stage development solar and battery storage projects as well as a 3.0GW pipeline.

John Breckenridge, previously a senior managing director and head of CEI at Capital Dynamics, will lead Arevon Energy as CEO. Capital Dynamics will continue to manage its CEI funds and operate its CEI investment strategy, with assets across the US and Europe.

Capital Dynamics said it has entered into a consulting services agreement with Arevon Energy, in addition to continuing asset management services for Capital Dynamics’ existing US renewable energy projects.

Martin Hahn, CEO of Capital Dynamics, said: “Clean energy investments are an important initiative for this investor group, and we believe this transaction, which provides them with a specialised, dedicated energy management platform, greatly benefits our valued partners.

“We will continue accelerating the clean energy transition in the US and Europe through our global Clean Energy Infrastructure platform, where our talented team continues to generate attractive investment opportunities for our clients.”

Breckenridge said: “I am deeply proud of what we have built over the past seven years at Capital Dynamics. During that time, the CEI team has become one of the largest renewable energy investment managers in the world with one of the longest track records in the industry.

“Establishing this platform is a natural progression for Arevon and positions it well for the next stage of growth in the renewable energy sector.”

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