NEW YORK–(BUSINESS WIRE)–Capital Constellation (“Constellation”), an investment platform managed by Wafra Inc. (“Wafra”), today announced a strategic minority investment in Greenbelt Capital Partners (“Greenbelt”), a private equity firm focused on investments related to the long-term changes in the production and consumption of energy (the “New Energy Economy”).
Founded by Chris Manning and Glenn Jacobson, who previously led the energy strategy at Trilantic Capital Partners North America and prior to that focused together on energy investments at Lehman Brothers Merchant Banking. Greenbelt targets private equity, infrastructure development and late-stage growth opportunities in the New Energy Economy. Capital Constellation is supported by premier global institutional investors to provide catalytic investment capital to growth stage investment management firms.
“This investment by Wafra and Constellation is a strong endorsement of Greenbelt’s investment strategy, and we are thrilled to partner with a team who has the experience and expertise to help us achieve the next phase of our growth plan,” said Chris Manning, Managing Partner and Chief Executive Officer of Greenbelt. “We believe the ongoing transformation of the energy complex presents a generational investment opportunity for Greenbelt, and this partnership with Constellation will accelerate our growth and enable us to continue pursuing investment opportunities in the New Energy Economy,” added Glenn Jacobson, Managing Partner of Greenbelt.
“The deployment of private capital in the global energy transition effort is one that requires discipline and thoughtfulness in order to achieve effective financial and non-financial outcomes. We are confident that Chris, Glenn and the rest of the Greenbelt team are well positioned to continue to invest in the necessary progression of energy transition while maximizing value for their investors,” said Lauren Rich, Managing Director at Wafra. “Constellation prides itself on identifying and partnering with differentiated alternative asset management firms, and in Greenbelt we’ve found a sector specialist with a tenured team and a likeminded approach to partnership,” said Adel Alderbas, Chief Investment Officer of Wafra.
Gibson, Dunn & Crutcher LLP served as legal advisor to Wafra. Kirkland & Ellis LLP served as legal advisor to Greenbelt.
About Greenbelt Capital Partners
Greenbelt Capital Partners is an Austin, TX-based growth-focused middle-market private equity firm focused on control and significant minority investments ranging from late-stage growth equity to private equity to infrastructure development. The senior team at Greenbelt has committed approximately $5.5 billion of equity capital across multiple portfolio companies and consummated over $61 billion of M&A and financings in over 220 transactions across the portfolio. For more information, visit www.greenbeltcapital.com.
Wafra is a global alternative asset manager with approximately $31 billion of assets under management. Funds advised by Wafra have formed 27 strategic partnerships with both growth-stage and mature alternative asset managers. By providing flexible and accretive capital solutions and focusing on the long term, Wafra aligns with and invests in high-quality investment management teams. Headquartered in New York, Wafra and its affiliates have additional offices in London, Kuwait and Bermuda. For more information, please visit www.wafra.com.
About Capital Constellation
Founded and advised by Wafra and created in partnership with a select group of institutional asset owners, Capital Constellation is an innovative venture among global investors, designed as a collaborative asset owner platform with significant capital and expertise from some of the world’s premier institutional investors. Capital Constellation pursues a private equity strategy that provides growth capital to private alternative asset management firms, believing that the ability to partner with talented investment teams can create aligned, substantial and lasting benefits for both asset owners and asset managers. For more information, please visit: www.capitalconstellation.com.