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Foley Represents Kimmeridge in Growth Equity Investment in 38 Degrees North

Foley & Lardner LLP represented Kimmeridge Energy Management Company, LLC, an alternative asset manager focused on energy investments, in its growth equity investment in 38 Degrees North, a community solar and distributed renewables platform based in Sausalito, California.

The investment, made alongside Climate Adaptive Infrastructure, brings 38 Degrees North’s total growth capital raised to more than $230 million. As part of the transaction, 38 Degrees North also acquired U.S. Light Energy, a community solar developer backed by Kimmeridge, along with its pipeline of more than 250 megawatts of projects.

Founded in 2015, 38 Degrees North develops distributed generation and community solar projects and has completed more than 400 megawatts across over 100 projects since its inception. The investment will support the company in meeting growing demand for distributed renewable energy projects across the United States.

The Foley deal team representing Kimmeridge was led by John Klusaritz and Miguel Beltran, with tax support from James Howard.

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