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Aquarian Acquires Majority Stake in PACE Equity
Aquarian Holdings announced an investment into Milwaukee-based PACE Equity, an independent provider of funding for commercial property-assessed clean energy projects.
Through its investment, Aquarian will take a majority share in PACE Equity and provide up to $1 billion
of financing that allows the firm to significantly scale its capacity and expand the reach and size of its debt financing projects.
“The long-term stability of C-PACE projects are a highly attractive opportunity, and we are very pleased to be entering into this partnership with PACE Equity,” said Rudy Sahay, Founder and Managing Partner of Aquarian.
DLA Piper served as legal advisor to Aquarian in the transaction. Gibson, Dunn & Crutcher LLP served as legal advisor to PACE Equity, while Guggenheim Securities, LLC served as financial advisor to PACE Equity.
“We are excited about working with a great partner in Aquarian who can help us expand our market reach and increase our velocity as we unlock new opportunities,” said Beau Engman, Founder and President of PACE Equity.
