Kensington Power Income Fund LP, which is managed by Canadian alternative assets investor Kensington Capital Partners, has completed its final investment. The Kensington fund closed a deal with Genalta Power Inc that allowed the fund to take equity interests in 10 electrical generating plants with 70 megawatt of installed capacity in Alberta’s Peace River District and Woodland County areas, and British Columbia’s Crowsnest Pass region. The deal’s financial terms were not disclosed. Based in Calgary, Genalta is a power producer that generates electricity from alternative energy sources.
Kensington Capital Partners Completes Investment Program for its First Infrastructure Fund
TORONTO, Jan. 13, 2015 /CNW/ – Kensington Capital Partners Limited is pleased to announce the successful closing of its final investment for the Kensington Power Income Fund, L.P. The Kensington Power Income Fund now owns equity interests in 10 electrical generating plants with 70MW of installed capacity in the Peace River District and Woodland County areas of Alberta and the Crowsnest Pass region in British Columbia. The closing of this transaction with Genalta Power Inc. marks the full deployment of capital from the Kensington Power Income Fund. Kensington and Genalta have formed a new partnership to develop Genalta’s future projects and provide in-depth operational capability thus providing Kensington’s infrastructure investment program with a pipeline of power projects.
“This ground breaking transaction diversifies our portfolio of power projects, and should provide the long term cash flows that our investors are seeking in this asset class,” stated John Walker, Managing Director at Kensington Capital.
The Kensington Power Income Fund closed in December of 2013 and is focused on mid-market power projects located in North America. It is designed for accredited investors with the opportunity to capture steady, inflation protected cash flows from the same kinds of infrastructure asserts that have previously been available to only the largest institutional investors. The fund pays quarterly distributions to investors.
About Kensington Capital Partners Limited:
Kensington is a leading independent Canadian investor in alternative assets. Founded in 1996, and with over $600 million invested to date in private equity, venture capital, infrastructure and hedge funds, Kensington’s active management approach and relationship based business has generated top quartile returns for investors. For more information, visit www.kcpl.ca.
About Genalta Power Incorporated:
Genalta Power is a privately held Canadian corporation in the business of developing, owning and operating independent power plants that produce and sell environmentally-friendly electricity from waste heat and clean energy sources. Genalta capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities. Genalta pursues a mix of waste heat recovery, waste fuel gas, waste pressure and gas to power projects. Visit www.genaltapower.com for more information.
SOURCE Kensington Capital Partners Limited
For further information: Media requiring further information please contact: John Walker, Managing Director, Kensington Capital Partners Limited, 416.362.5496 / firstname.lastname@example.org; Tai Nguyen, Principal, Kensington Capital Partners Limited, 416.362.8192 / email@example.com
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