Dallas-based Panda Power Funds has secured $420 million in capital commitments for the Panda Power Generation Infrastructure Fund. The Panda Fund intends to set up or take over U.S. natural gas-fueled power plants and utility-scale solar projects in certain states. Large public and corporate pension plans are among the investors.
The closing of the private equity fund will support the business strategy, market knowledge and industry relationships. Boston-based Beacon Hill Financial Corp. was sole placement agent for the fund. Compass Advisors advised on the capital raising, while Latham & Watkins offered legal services.
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