Sandbrook Capital, PSP Investments, IMCO to buy NeXtWind Capital

• Sandbrook, PSP Investments and IMCO to commit up to $750m of equity capital to NeXtWind to acquire its existing portfolio of operating wind assets
• Sandbrook Capital is a private investment firm
• Crestline is an investment management firm headquartered in Fort Worth, Texas

Sandbrook Capital, Public Sector Pension Investment Board (PSP Investments) and Investment Management Corp of Ontario (IMCO) have agreed to acquire NeXtWind Capital from a syndicate led by Crestline Investors.

NeXtWind Capital is a German renewable energy company that acquires and repowers onshore wind farms. It is based in Berlin.

Sandbrook, PSP Investments and IMCO will commit up to $750 million of equity capital to NeXtWind to acquire its existing portfolio of operating wind assets and to fund future growth.

“We are thrilled to partner with the NeXtWind management team as well as PSP Investments and IMCO to grow this platform in Germany,” said Ken Ryan, co-founder, and partner, Sandbrook. “We have been looking to enter this space for several years and are confident we have the right team and capital base to become a leading player in the German renewables market.”

Sandbrook Capital is a private investment firm with offices in Stamford, Connecticut and London, UK.

PSP Investments is a pension investor with C$243.7 billion of net assets under management as of 31 March 2023. The firm is based in Ottawa, Canada.

IMCO is an institutional investor that manages C$73.3 billion of assets and is based in Toronto, Ontario.

Crestline is an investment management firm headquartered in Fort Worth, Texas. The firm has $16.6 billion of assets under management. Crestline Europe is based in London.