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.
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.