Foley Hoag Represents True Green Capital Management in Closing of $113M Fund
June 19, 2015
Foley Hoag LLP recently advised True Green Capital Management LLC (“TGC”), an institutional asset manager specializing in distributed power generation with a current focus on distributed commercial photovoltaic (PV) solar, in the closing of its $113M fund, the True Green Capital Opportunity Partnership, L.P. (“Fund II”).
Since its founding in 2011, Westport, Conn.-based TGC has invested approximately $200 million into a portfolio of over 125 MW of assets in Vermont, Massachusetts, Rhode Island, New Jersey, Tennessee, California and Idaho. The majority of its Fund II capital has been deployed to a portfolio of pre-identified commercial solar PV projects, continuing TGC’s investment strategy of self-originating, building and financing solar power projects with credit-worthy counterparties.
The limited partners of Fund II include endowments and foundations, investment advisors, an insurance company and family office investors. Existing portfolio investments include solar plants installed at several municipal locations, military housing, several manufacturing companies and retailers.
Foley Hoag attorneys Eric Belsley, Mark Barnett, Meredith Haviland, Nicola Lemay, Peter Rosenblum and Gaby Bernstein advised TGC on the transaction.
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