BlackRock buys renewable natural gas producer Vanguard Renewables

The seller was Vision Ridge Partners.

  • Vanguard Renewables was founded by John Hanselman and Kevin Chase in 2014
  • Onpeak Capital LLC served as financial adviser to Vanguard Renewables while Evercore served as financial adviser to BlackRock Real Assets
  • As of June 30, 2022, BlackRock Real Assets is managing over $70 billion in client commitments

BlackRock Real Assets has acquired Wellesley, Massachusetts-based Vanguard Renewables, a developer of food and dairy waste-to-renewable energy projects. The seller was Vision Ridge Partners. No financial terms were disclosed.

Vanguard Renewables was founded by John Hanselman and Kevin Chase in 2014.

“We are pleased to invest in Vanguard Renewables, a leading producer of renewable natural gas from agriculture and organic food waste in the U.S., supported by long-term contracts,” said Mark Florian, head of diversified infrastructure, BlackRock Real Assets, in a statement. “Renewable natural gas is an attractive and fast-growing market that provides decarbonization solutions for both the provider of the waste, as well as the natural gas consumer.”

Onpeak Capital LLC served as financial adviser to Vanguard Renewables. Evercore served as exclusive financial adviser and Simpson Thacher, & Bartlett served as legal counsel to BlackRock Real Assets. Ropes & Gray LLP served as legal counsel to Vision Ridge Partners.

Vanguard Renewables is committed to advancing decarbonization by reducing greenhouse gas emissions from farms and food waste and supporting regenerative agriculture on partner farms through anaerobic digestion.

As of June 30, 2022, BlackRock Real Assets is managing over $70 billion in client commitments.

Founded by Reuben Munger and joined by partners Justin Goerke and George Polk, Vision Ridge manages approximately $2.5 billion, as of December 31, 2021, across its three funds and associated co-investments.