Pattern Energy Group LP, a leading renewable energy and transmission infrastructure company, announced that a consortium led by APG Asset Management N.V., representing the Netherlands’ largest pension fund ABP, and Australian Retirement Trust has completed the acquisition of Riverstone Holdings LLC’s equity stake in the company. The previously announced investment received all necessary regulatory approvals, establishing the consortium as a new owner alongside existing stakeholders Canada Pension Plan Investment Board (CPP Investments) and Pattern management. The companies did not disclose financial terms of the transaction.
Hunter Armistead, CEO of Pattern Energy, highlighted the strategic significance of the new partnership, stating that Pattern Energy has been significantly strengthened by APG’s and ART’s financial backing and supplemental growth capital. He emphasised that this investment further positions the company to address critical and rapidly expanding energy demand across North America, noting that the new partners appreciate Pattern’s commitment to developing reliable energy infrastructure while creating employment opportunities and investing in rural communities as the company advances its mission to “Power the Future.”
Steven Hason, head of Americas real assets at APG Asset Management US Inc., explained that the investment in Pattern Energy supports the firm’s client objectives of achieving attractive, stable returns while advancing cleaner and more resilient energy infrastructure. He noted that partnering with Pattern Energy and the new stakeholders reinforces APG’s strategy to deliver long-term value while making meaningful daily contributions to the energy sector.
Michael Weaver, general manager of mid risk assets & UK at ART, characterised the partnership with Pattern Energy as demonstrating the organisation’s commitment to advancing renewable energy infrastructure. He described the investment as strengthening ART’s expanding sustainable energy portfolio while aligning with the fund’s responsibilities as a leading global investor. Weaver expressed confidence that the investment will deliver lasting value for ART’s 2.4 million members while supporting the organisation’s Net Zero 2050 Roadmap.
Yakov Tsveig, principal of Riverstone, reflected on the firm’s founding partnership role, expressing pride in fostering the tremendous growth and innovation at Pattern Energy over the past 16 years. He voiced confidence that Pattern Energy remains well-positioned for continued success under its new ownership structure.
Pattern Energy was established in 2009 through a collaboration between Riverstone, its affiliates, and current and former Pattern management team members. Since its founding, the company has evolved into one of the world’s largest privately-owned developers and operators of sophisticated clean energy and transmission projects across North America.
The transaction involved several advisory firms, with Evercore Group L.L.C. serving as exclusive financial advisor and Vinson & Elkins providing legal counsel to Riverstone. Sidley Austin LLP acted as legal counsel for the buyer consortium.
For more information visit www.patternenergy.com
