Paul Hastings Acts as Counsel on ESG Advisory Work for TPG Rise Climate Transition Infrastructure’s $2.2 Billion Acquisition of Altus Power

Paul Hastings LLP acted as counsel on ESG advisory work for TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, in its definitive agreement to acquire Altus Power, Inc., the largest owner of commercial-scale solar in the U.S., through its Transition Infrastructure strategy in an all-cash transaction that values the company at approximately $2.2 billion, including outstanding debt.

Upon completion of the transaction, Altus Power’s Class A common stock will no longer be listed or traded on the New York Stock Exchange and Altus Power will become a privately held company.

Global co-chair of ESG & Sustainable Finance Ruth Knox led the Paul Hastings team, which also included partner Jonathan Drimmer and associates Chris Jones and Emma Ireland.

Completion of the transaction is expected in the second quarter of 2025, subject to the approval of Altus Power stockholders and the satisfaction of other customary closing conditions, including regulatory approvals. The transaction is not subject to a financing condition. More information on the transaction can be found here.

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