| Whitehall & Company provides M&A and
corporate advisory services, capital
structuring and placement
June 16, 2014
NM Neptune, LLC, an indirect wholly owned subsidiary of Northwestern Mutual, has acquired Starwood Energy's 25 percent Class C stake in the Neptune Regional Transmission System, LLC, which owns a 660 MW high-voltage direct current (HVDC) submarine transmission line linking New Jersey and Long Island, N.Y. Starwood retained Whitehall & Co. earlier this year to run a sale of its stake in Neptune. Financial terms were not disclosed. The stake represents a 16.05% economic interest and includes certain super-majority control rights.
April 4, 2014
TIAA-CREF has acquired a 35% stake in a 1 GW CCGT project in New York state from Advanced Power. Today, Advanced Power announced that it has sold most of its 40% stake in the Cricket Valley Energy (CVE) project to TIAA-CREF. Other shareholders in the project are thought to include GE Energy Financial Services (40%) and Marubeni (20%). Last summer, Whitehall Capital Markets, an affiliate of Whitehall & Co., was retained by Advanced Power to advise on raising equity for its 40% interest on CVE, which is located in New York ISO Zone G.
January 8, 2014
Astoria Project Partners LLC, the sole owner of the 550 MW natural gas-fired Astoria Energy power plant located in Queens, N.Y., has closed a $100 million refinancing of holding company-level debt. AMP Capital’s Institutional Debt Fund I and II provided the subordinated credit facility. Whitehall & Co., financial advisor to Astoria Project Partners, launched the refinancing in the summer, as first reported by SparkSpread on June 28.
April 5, 2013
Whitehall & Company, LLC, a New York-based independent investment bank, has arranged a $65 million senior secured term loan for Upstate Transmission Holdings, LLC (Upstate) from AIG Commercial Asset Finance. The loan was provided for recapitalization of Upstate and is secured by a 65 mile high-voltage transmission line that is on long-term lease by Upstate to Niagara Mohawk Power Corporation (Niagara Mohawk).
Whitehall & Co., a New York-based independent investment banking advisory firm, recently hired a trio of bankers, two of whom previously worked at WestLB at Dexia Credit Local. The new hires are Susan Vick, formerly president of Access Global Capital, LLC; Vincas Snipas, the former co-head of energy project finance at Dexia Credit Local; and Brian Burchfield, a former associate director in the global energy group at WestLB.
March 27, 2013
Whitehall & Co., a New York-based advisory boutique, advised Rockland Capital on the financing of an approximately $100 million credit facility backing an up-to 40 MW portfolio of solar photovoltaic power projects in Massachusetts. Rockland is providing equity capital and has partnered with Boston-based Broadway Electrical Co., which will serve as EPC contractor for the portfolio of ground-mounted, rooftop and landfill-mounted PV projects.