The Silverfern Group, a leader in global direct investment, today announced that it has completed a follow-on investment into Silverfern portfolio company Broad River Power Holdings, an 878 MW dual-fuel, simple-cycle gas turbine electric power plant strategically located 40 miles from Charlotte, North Carolina, in partnership with Arroyo Energy Investors.
“Silverfern is pleased to continue its strong support for our investment partner Arroyo and the Broad River team, as evidenced by our follow-on investment in the Broad River facility,” said Silverfern Managing Director Brooks Klimley. “Broad River is a modern, efficient facility that is playing an increasingly important role in the provision of clean, reliable electricity to consumers in North and South Carolina.”
Silverfern Co-Managing Partner Clive Holmes added, “The opportunity to expand our investment in Broad River in partnership with Arroyo further demonstrates that by partnering with lead investors with deep industry and local knowledge, we can identify and access value where other investors may not be able to do so. Capturing this value on investment allows Silverfern to potentially deliver a higher return to our investors than might otherwise be commensurate with the risk underwritten in an infrastructure investment such as Broad River.”
The Broad River investment represents Silverfern’s fifth portfolio follow-on investment in the past 18 months.
About Broad River
Broad River Energy Center is a 5×0 Simple Cycle Generating Facility producing electricity under a long term tolling agreement located in Gaffney, South Carolina. Broad River utilizes 5 GE 7FA.03 gas turbine generators for the generation of electrical power. The units can be on the grid and supplying power within 15 minutes to help serve peak and emergency loads.
Location: Gaffney, SC. MW: 878. Fuel: Natural Gas (Primary), Distillate Fuel Oil (Back-up). Technology: Simple Cycle. Commercial Operation: 2000 – Present.
Founded in 2001, Silverfern is amongst the few truly global middle-market, multi-asset class, investment management firms in the world today. Silverfern invests on behalf of both institutional investors and a global network of more than 65 of the world’s largest and most sophisticated multi-billion-dollar single family offices, and has a global partnership with the Citibank Private Bank. Through its offices in New York, Amsterdam, Frankfurt and Sydney, Silverfern makes direct, co-control investments in middle market private equity, real estate, and private debt globally. Silverfern’s investment strategy seeks to mitigate systemic risk in its portfolio by pursuing attractive risk-adjusted returns on a global basis, while at the same time seeking to manage local/market risk through its strategy to partner with non-traditional, local, investment partners on each of its investments.