Australian superannuation fund Rest and real assets fund manager Wollemi Capital have acquired a majority stake in US distributed solar firm Redball Energy.
The pair have invested an unspecified sum to support Redball’s plans to expand across the Mid-Atlantic and Northeast and broaden its offering to include battery storage.
Rest is investing in the Washington, DC-based business through a Wollemi-managed co-investment fund.
Founded in 2021, Redball owns and operates around 4,500 rooftop solar systems on homes and businesses throughout the Mid-Atlantic and New England regions.
The deal builds on Rest’s A$230m cornerstone commitment to Wollemi’s inaugural managed vehicle in July 2025, alongside the pair’s recently expanded A$350m investment in Australian distributed solar and storage platform MPower.
Natalie Volpe, Wollemi Capital US co-head, said: “The Redball team has built an impressive business through a disciplined, partnership-led approach, and the opportunity for distributed energy in the US is significant as electricity demand rises. We’re excited to partner with Redball and bring our experience backing distributed solar and storage platforms to the US market.”
Zach Axelrod, Redball CEO, said: “We’ve built Redball by working closely with a select group of trusted local installers and being disciplined about where we operate. That approach has served us well, and I’m proud of the team and network we have already built.
“We’re excited now to be working with Wollemi, whose backing gives us the capital and long-term partnership to take it even further.”
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