The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Thursday, July 21, 2022
BlackRock Buys Vanguard. No, Not THAT One!
You read the headline right. Larry Fink and his team have snapped up a Boston-area renewable energy company with an interesting name, one not to be confused with that of a certain mutual fund titan further south.
OnPeak Capital LLC advised Vanguard Renewables on the deal, while Evercore advised BlackRock. On the legal side, Simpson Thacher & Bartlett advised BlackRock, while Ropes & Gray LLP advised Vision Ridge.
Kevin Chase and John Hanselman founded Vanguard Renewables eight years ago, and the firm specializes in turning food waste and manure into energy. The company appears to have no relation to a certain similiarly named BlackRock rival based in Malvern, Pennsylvania.
Florian frames the deal in the context of the attractiveness of "renewable natural gas," which he describes as a "fast-growing market that provides decarbonization solutions for both the provider of the waste, as well as the natural gas consumer." Smith, for his part, describes the deal as "an exciting next chapter for Vanguard Renewables."
Printed from: MFWire.com/story.asp?s=64657
Copyright 2022, InvestmentWires, Inc.
All Rights Reserved