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...It is also the biggest fund ever raised by Brookfield, which manages $850bn across sectors spanning real estate, credit and insurance, renewable energy and corporate buyouts....
...It comes as North Sea producers are seeking scale to help fund investment and decommissioning costs....
...Leverage has been applied ‘downstream’ at the portfolio company level, ‘upstream’ with recourse to GPs and LPs, and ‘midstream’ to the funds that own portfolio companies in the form of NAV loans....
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
...One of the received tenets of the energy transition was that there was no trade-off between green investing and making money....
...The uptick in dealmaking across the so-called midstream energy infrastructure sector also reflects waning appetite to build new pipelines after a construction frenzy during the height of the shale revolution...
...“CVR Energy is a cash cow,” said Nick Moglia, a credit analyst with CreditSights....
...The latest campaign from Elliott comes after it prevailed in a stand-off with NRG Energy this month....
...Are we going to see that trickle down or flow through to midstream operators, and service companies?” (Myles McCormick and Amanda Chu) 3....
...To nudge banks away from fossil-fuel financing, one of the most vocal pension funds on climate change has wrangled two Wall Street banks into disclosing a ratio comparing their respective levels of financing...
...Our energy team colleagues explain what’s behind the hold-up....
...More than half of BlackRock’s $10tn in assets under management are retirement savings, including institutional pension funds, corporate defined contribution plans known as 401(k)s and individual accounts...
...Scott Nuttall, co-chief executive of KKR, recently highlighted the private equity group’s infrastructure business, including new funds dedicated to the energy transition, as a major source of growth....
...In October last year, the fund announced a A$300mn partnership with energy storage and renewables developer Birdwood Energy....
...Among them were Canadian pension fund Ontario Municipal Employees Retirement System, as well as the Abu Dhabi and Chinese sovereign wealth funds....
...Oil-focused pipeline group Magellan Midstream Partners has explicitly pointed to gas’s “more powerful growth engine” as it pursues a sale to the gas-heavy Oneok....
...The really big question in global macro this year is around who will buy the huge wave of extra issuance from governments trying to make ends meet and finance the green energy transition....
...First Solar, an Arizona-based clean energy equipment maker, has $1.8bn in overall balance sheet cash....
...They said Origin should be able to fund its energy transition as an independent company....
...Even as global temperatures smash through record highs, the oil industry is claiming the world can’t afford the rapid transition from fossil fuels to cleaner energy....
...AustralianSuper, the country’s largest pension fund and owner of 17 per cent of Origin, thought it undervalued the company....
...A second reason for sustainable funds doing relatively well is that energy stocks have not outperformed this year, unlike in 2022....
...The exclusions will also apply to fixed income funds, potentially precipitating a sell-off in the bonds of energy companies....
..., make interest payments, fund debt maturities and increase BHE’s reliance on debt”....
...The fund then said on Thursday the new offer was still “substantially below” its view of the energy company’s long-term intrinsic value....
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