Generate Capital raises more than USD 1bn

04 February 2020 - 12:00 am UTC

Generate Capital, a San Francisco-based company that invests in renewable and sustainable infrastructure, has raised more than USD 1bn in funding, the firm announced today.

Investors included AustralianSuper, QIC Global Infrastructure, Railways Pension and AP2 of Sweden.

QIC was the lead investor in this equity round, according to a source close to the situation; this was also AustralianSuper’s first direct investment in the US, according to Inframation Deals.

Bank of America Merrill Lynch and Brooklands Capital Strategies advised Generate Capital on its latest fundraising round, which follows previous equity rounds in 2015 and 2017, Generate Capital’s co-founder and CEO Scott Jacobs told Inframation.

The firm builds, owns, operates and finances investments in the power, transportation, water and wastewater sectors. On average, the firm invests anywhere from USD 2m to USD 200m of equity in a single transaction, Jacobs said.

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