RBC Capital Markets, LLC acted as financial advisor and Stroock & Stroock & Lavan LLP acted as legal counsel to Ridgewood Infrastructure.
Ridgewood Infrastructure, LLC (“Ridgewood”), a value-adding investor focused on water and other essential infrastructure in the U.S. lower middle market, today announced the sale of its managed interests in the Neptune Regional Transmission System (“Neptune”). Neptune, an operating 65-mile submarine power transmission line connecting New Jersey and Long Island, has capacity of 660-Megawatts of high-voltage direct-current that is fully contracted with the Long Island Power Authority (“LIPA”) under a long-term agreement.
Ridgewood Infrastructure is part of the affiliated Ridgewood Companies, which currently manage capital and commitments of more than $5 billion focused primarily on infrastructure and energy. Ridgewood Companies, led by Robert E. Swanson J.D. is based in Montvale (NJ).
The Stroock team was led by partner Richard Madris (Picture), head of Stroock’s Infrastructure Group, and included special counsel Dan Park, special counsel Dan Simon and tax partner Michelle Jewett.
Law Firms: Stroock;
Clients: Ridgewood Company;