Enviva Holdings has completed a series of transactions that recapitalized the company with more than $1 billion of new equity contributions and incremental equity commitments from affiliates of Riverstone Holdings.
The Continuation Fund was formed by Riverstone in partnership with a diverse group of institutions with deep, global expertise in sustainable investing, energy, forestry, finance and industrial operations, for the sole purpose of investing in Enviva.
The Goldman Sachs Vintage Funds, Mubadala, and BTG Pactual anchored the Continuation Fund, alongside additional investments from affiliates of funds managed by Fortress Investment Group, Neuberger Berman, and GCM Grosvenor, among other institutional investors.
Enviva used the new capital contributions from the Continuation Fund to pay the transaction consideration contemplated by the Recapitalization to its prior investors and will be able to call the incremental equity commitments from the Continuation F
