MELBOURNE: Auctus Alternative Investments Limited has signed a term sheet, subject to formal documentation, to establish a US asset management business – RBP Partners.
Auctus will directly own a 30% equity shareholding via the joint venture in partnership with an investment team based in New York. The investment team has significant experience investing in North American infrastructure and specialty operating real estate platforms.
Specific sectors of focus include energy infrastructure, transportation infrastructure, communications infrastructure and special purpose operational real estate. The partnerships’ initial investment will be in a leading battery storage company focused on the development and acquisition of large-scale projects for utility customers in North America.
The business is a leading independent storage platform led by an experienced management team, with several contracted and operational projects in addition to a growing pipeline of opportunities. Auctus will launch a US$25 million capital raise via a special purpose vehicle to fund their next stage of growth. Energy storage is a highly fragmented industry with exciting growth prospects (expected to grow to US$4bn globally by 2022 – Navigant Consulting).
Auctus Managing Director, Campbell McComb: “We are excited to be broadening our offshore investment capabilities sooner than internally modelled. This will complement our current joint venture partner, Scout Ventures of New York. Our team has spent considerable time with the senior executives at RBP Partners and find their experience, values and goals highly aligned with ours at Auctus. We look forward to introducing attractive opportunities to the domestic and offshore investment market via this new joint venture”.