Deals Counterparts

Vinson & Elkins Represents Apex Clean Energy in Sale of Renewable Energy Portfolio to Ares

Project Sales Renewable Energy announced Charlottesville, United States Jul 15, 2025
30 GW
Capacity
development
Stage

Vinson & Elkins represented Apex Clean Energy in the sale of a portfolio of renewable energy projects to Ares Management Corporation. The portfolio includes wind and solar projects across the United States.

Source Intelligence

KEY DETAILS

Apex has commercialized more than $9 billion of utility-scale projects. Quote: To date, Apex has commercialized more than $9 billion of utility-scale projects

Capacity
Apex has a leading and diversified clean energy portfolio with more than 30 GW in development.
Location
Charlottesville, VA
Financials
The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP).
Announcement
Charlottesville, VA – October 6, 2021
Expected Close
The agreement is subject to customary approvals and is expected to close prior to the end of 2021.
PARTIES MENTIONED IN SOURCE
A
Ares Management Corporation buyer

"Funds Managed by Ares Management to Acquire Majority Stake in Apex Clean Energy"

A
Apex Clean Energy seller

"Funds Managed by Ares Management to Acquire Majority Stake in Apex Clean Energy"

E
EGCO Group investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

V
Varma Mutual Pension Insurance Company investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

C
Clal Insurance & Finance investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

M
Menora Mivtachim Group investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

S
ST International Corporation investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

M
Morgan Stanley Investment Management’s Portfolio Solutions Group investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

T
The Hartford investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

P
Poalim Equity investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

I
IMM Investment Global investor

"A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares."

L
Lazard advisor

"Lazard served as lead financial advisor to Apex"

C
CohnReznick Capital advisor

"CohnReznick Capital served as financial advisor to Apex"

O
Orrick, Herrington & Sutcliffe LLP advisor

"Orrick, Herrington & Sutcliffe LLP served as outside counsel to Apex."

N
Nomura Greentech advisor

"Nomura Greentech served as financial advisor to Ares"

K
Kirkland & Ellis LLP advisor

"Kirkland & Ellis LLP served as outside counsel to Ares on the transaction."

high quality Enriched Feb 19, 2026

Timeline

Announced
Jul 15, 2025
Signed
Closed

Market Context

This deal is part of the Renewable Energy sector in United States.
94
Renewable Energy deals
565
deals in United States
1 of 94 Renewable Energy deals tracked this month · Updated daily

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