On September 24, 2024, GCM Grosvenor (NASDAQ: GCMG) acquired a 25% equity interest in Shepherds Flat, the largest repowered wind farm in North America, from Brookfield Asset Management (NYSE: BAM, TSX: BAM) and its institutional partners, including Brookfield Renewable. Shepherds Flat, located in Oregon, operates with 338 turbines and a nameplate capacity of 845 MW, generating over 2,000 GWh of electricity annually—enough to power 185,000 U.S. households. The wind farm is backed by a long-term contract with a major utility.

GCM Grosvenor’s Infrastructure Advantage Strategy views this as a significant opportunity to invest in renewable energy infrastructure, confident in delivering long-term value to its investors. Brookfield Renewable had previously acquired Shepherds Flat in 2021, performing a comprehensive repowering to enhance efficiency and extend the wind farm's lifespan.

The transaction highlights the strategic collaboration between GCM Grosvenor and Brookfield, as both companies aim to enhance Shepherds Flat's value further.

Thorndike Landing LLC advised GCM Grosvenor, with Kirkland & Ellis LLP as legal counsel. Brookfield received financial advice from BMO and Wells Fargo, while King & Spalding LLP acted as legal advisor. Transaction values were not disclosed.