Client Deal Spotlight: Capital Dynamics Acquires 8point3 Partners

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Stoel Rives congratulates its client Capital Dynamics on its acquisition of 8point3 Partners.  The acquisition consisted of three acquisitions in one: (1) interests held by First Solar; (2) interests held by SunPower; and (3) publicly traded limited partnership interests. In addition, Capital Dynamics issued debt in three tranches to finance the acquisition.

Capital Dynamics is an independent, global asset manager that invests in private equity, private credit and clean energy infrastructure. The firm manages investments through a broad range of products and opportunities that include separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has $15 billion in assets under management and advisement.

8point3 Energy Partners LP was a yieldco joint venture formed between First Solar and SunPower. The limited partnership owned, operated and acquired solar energy generation projects as well as interests in projects in the U.S. that generated long-term contracted cash flows.  Those projects will now be held in various entities that CD will manage for its own account and on behalf of its investors. 

The Stoel Rives deal team, which provided tax and regulatory counsel to Capital Dynamics, was led by Greg Jenner and included, working on various aspects of the deal, attorneys Sylvia Arostegui, Ken Black, Mark Bonham, Rich Bonnifield, Chris Demet, Melissa Foster, Will Goodling, Chris Heuer, Jennifer Johnson, Sarah Kozal, David Levant, Xiaowan Mao, Jennifer Mersing, Adam Schurle, Eric Skanchy, Allison Smith, Heather Stewart and Reed Topham; and support staff Eileen McCarty.

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Key Contributors

Sylvia S. Arostegui
Melissa A. Foster
William J. Goodling
Christopher K. Heuer
Jennifer L. Johnson
David B. Levant
Allison C. Smith
Heather L. Stewart
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