The network spans thousands of kilometres across Saudi Arabia and generates tariff revenue under a 25-year lease agreement.
The vehicle involves a portfolio of Bakken oil and gas properties previously held in the manager's 2014-vintage Fund III.
The continuation fund, managed by Victory Hill, will hold two operating liquid storage terminals in the Port of Brownsville.
The direct secondaries deal gives the French manager full ownership of the 460 MW Horse Creek and Electra wind farms in Texas, which it has backed since 2018.
An institutional LP is considering rolling approximately $300 million of existing exposure across two funds into the new vehicle, after participating in the manager's European CV earlier this year.
The oversubscribed vehicle for Ireland-based H&MV Engineering values the power infrastructure specialist at €1.4 billion, marking a 12x increase since Exponent's initial 2022 investment.
The Connecticut-based manager specializes in energy infrastructure investments, including renewable power generation, battery storage, and midstream and downstream assets.
The single-asset CV was executed alongside the sale of a 50% stake in the Peruvian power generation company to CPP Investments.
The single-asset vehicle extends the infrastructure specialist's hold on a Peruvian private power generation company.
The single-asset vehicle increased the Spanish manager's stake in an energy transition platform.
