Private Equity and Pension Fund Investments

Goldman Sachs Asset Management in its US$250 million investment in Hydrostor

Goldman Sachs Asset Management
Key Contact
James R. Brown

Partner, Corporate, Toronto

Team
Kaeleigh Kuzma

Partner, Competition/Antitrust and Foreign Investment, Calgary

Danielle Chu

Associate, Competition, Trade & Foreign Investment, Toronto

Damian Rigolo

Partner, Employment and Labour, Toronto

Carrington A. Hickey

Associate, Employment and Labour, Toronto

Julien Ranger

Partner, Pensions and Benefits, Montréal

Jonathan Wypych

Associate, Pensions and Benefits, Toronto

Ryan Nielsen

Partner, Real Estate, Toronto

Josh Disenhouse

Partner, Real Estate, Toronto

Matias Milet

Partner, Tax, Toronto

Dov Begun

Partner, Tax, Toronto

Jennifer Horton

Associate, Tax, Toronto

On January 10, 2022, Hydrostor Inc. , a long-duration energy storage solutions provider, announced a preferred equity financing commitment of US$250 million from the Private Equity and Sustainable Investing businesses of Goldman Sachs Asset Management. Goldman Sachs has agreed to fund its investment in tranches tied to project milestones to match Hydrostor’s capital needs and accelerate project execution throughout development, construction, and operations alongside Hydrostor’s development partners. The investment proceeds will also be used to support development and construction of Hydrostor’s 1.1GW, 8.7GWh of Advanced Compressed Air Energy Storage projects in Australia and California and to expand Hydrostor’s project development pipeline globally.

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. GSAM is the primary investing area within Goldman Sachs, a global investment banking, securities and investment management firm.

Osler, Hoskin & Harcourt LLP advised Goldman Sachs Asset Management with a team consisting of James Brown, Aqeel Virk (Corporate), Kaeleigh Kuzma, Danielle Chu (Competition & Antitrust), Damian Rigolo, Carrington Hickey (Employment & Labour), Patrick Welsh (Environmental), Julien Ranger, Jonathan Wypych (Pensions & Benefits), Ryan Nielsen, Joshua Disenhouse (Real Estate), Matias Milet, Dov Begun and Jennifer Horton (Tax).

Value
US$250 million
Date Closed
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Lead Office
Toronto
Key Contact
James R. Brown

Partner, Corporate, Toronto

Team
Kaeleigh Kuzma

Partner, Competition/Antitrust and Foreign Investment, Calgary

Danielle Chu

Associate, Competition, Trade & Foreign Investment, Toronto

Damian Rigolo

Partner, Employment and Labour, Toronto

Carrington A. Hickey

Associate, Employment and Labour, Toronto

Julien Ranger

Partner, Pensions and Benefits, Montréal

Jonathan Wypych

Associate, Pensions and Benefits, Toronto

Ryan Nielsen

Partner, Real Estate, Toronto

Josh Disenhouse

Partner, Real Estate, Toronto

Matias Milet

Partner, Tax, Toronto

Dov Begun

Partner, Tax, Toronto

Jennifer Horton

Associate, Tax, Toronto