I Squared Capital has entered into an exclusive strategic partnership with Twenty First Century Utilities (TFC), a privately-held development and asset operations firm.
TFC is active in the power and utilities sectors in North America, including the U.S., Canada and the West Indies.
I Squared made the acquisition through its ISQ Global Infrastructure Fund II and has acquired TFC’s pipeline of investment opportunities as part of the deal.
Larry Kellerman founded TFC in 2015 with a mission to transform regulated electric utilities by implementing an operating model that drives mass adoption of clean, low-cost energy producing and saving technologies, while optimizing the power grid to enhance reliability, resiliency and security (PFR, 3/6/15).
The firm also develops and operates clean energy and technology projects throughout North America.
TFC’s current managing partners, Kellerman and Peter Corsell, will join I Squared as managing directors, where they will continue to focus on the pipeline they have built up as well as developing new initiatives within the firm.
TFC will continue as a standalone company headquartered in Washington, D.C.
(A version of this article first appeared in IJGlobal).