Sixth Street acquires 38% of Sorgenia

Sixth Street's acquisition of a 38% stake in Sorgenia, an Italian renewable energy company, for $4.6 billion represents a significant investment in the European renewable energy sector. The deal involves a consortium of sellers, including Asterion Industrial Partners, and sees Sixth Street partnering with F2i, the majority shareholder of Sorgenia. This transaction underscores the growing appetite for renewable energy assets and the increasing participation of private equity firms in the energy transition. The involvement of multiple advisors, including Cleary Gottlieb, Rothschild & Co., Intesa, Lazard, Pedersoli, Mediobanca, BofA Securities, and Gibson Dunn, highlights the complexity and scale of the transaction. This acquisition positions Sixth Street to capitalize on the expanding renewable energy market in Italy and Europe. Sorgenia's focus on electricity and gas production from renewable sources aligns with the broader trend towards decarbonization and the increasing demand for sustainable energy solutions. The deal's size and the participation of established players like F2i and Asterion Industrial Partners further validate the attractiveness of the renewable energy sector as an investment opportunity. The transaction is still pending finalization, with the signing and closing dates yet to be determined.