Jan 11, 2022

​Marathon Capital Advises Manulife on $400 Million Investment into Silicon Ranch

Marathon Capital, LLC (“Marathon Capital”) is pleased to announce Manulife Investment Management’s (“Manulife”) approximately $400 million equity investment into Silicon Ranch. Manulife, on behalf of Manulife Infrastructure Fund II and John Hancock, led the $775 million round, which represented its first investment in the company. Marathon Capital acted as the exclusive financial advisor to Manulife.

Marathon Capital conducted detailed due diligence, extensive valuation analyses of the solar portfolio and development platform, as well as advised John Hancock throughout its negotiations with Silicon Ranch and its key shareholders.

“We are honored to have represented Manulife on this important transaction. Manulife has a long track record as a seasoned owner of operating renewable assets across the Globe and with this significant corporate investment into Silicon Ranch, Manulife has established a key position on the renewable asset development side. In many ways, this feels like a natural progression for large renewable investors similar to Manulife.” – Ammad Faisal, Senior Managing Director & Co-Head of NY Office, Marathon Capital.

“This transaction represents a unique opportunity for high-quality renewable developers with significant growth potentials to access a differentiated source of corporate-level equity capital from longer-term financial investors such as insurance companies, in addition to the traditional infrastructure and private equity funds.” – Ari Pribadi, Senior Managing Director & Head of Chicago Office, Marathon Capital.

Manulife Investment Management is joined in the round by existing Silicon Ranch shareholders, including Shell, TD Greystone Infrastructure Fund (Global Master) L.P., and Mountain Group Partners.

 

 

About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.

About Silicon Ranch Corporation
Founded in 2011, Silicon Ranch is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for a diverse set of partners across North America. The company is one of the largest independent power producers in the country, with a portfolio that includes more than 4 gigawatts of solar and battery storage systems that are contracted, under construction, or operating across the U.S. and Canada. Silicon Ranch owns and operates every project in its portfolio and has maintained an unblemished track record of project execution, having successfully commissioned every project it has contracted in its history. In recognition of its holistic approach to land management, which the company has trademarked Regenerative Energy®, Silicon Ranch was named 2020’s “Most Forward-Thinking” company by Solar Power World. To learn more, visit siliconranch.com and regenerativeenergy.org and follow-on Facebook, Instagram, Twitter, and LinkedIn.

 

 

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Contact Information

Ammad Faisal, CFA
Senior Managing Director & Co-Head of NYC
afaisal@marathoncapital.com
+1 646-779-1616
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Ari Pribadi
Senior Managing Director, Head of Chicago & Co-Chair of D&I Committee
apribadi@marathoncapital.com
+1 312-989-1351
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Mark McDonald
Vice President
mmcdonald@marathoncapital.com
+1 312-989-1375
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