The New Mexico State Investment Council (SIC) is mulling a $150 million investment in Hull Street Energy Partners III (HSE III), managed by Hull Street Energy (HSE).
During its Aug. 27 meeting, SIC staff, in consultation with Mercer, recommended the commitment, which would represent a new relationship for the sovereign wealth fund.
HSE, an independent asset manager based in Maryland, is focused on investing in the power, renewable energy and infrastructure sectors in North America. The firm takes a holistic approach to driving the grid transition, encompassing renewable generation; thermal generation; energy storage; and retail supply and distributed generation.
HSE III takes a value-oriented approach to investing in middle-market North American power investments that support decarbonization, according to the investment-strategy overview presented to SIC. A key focus of the fund is acquiring operating power plants — typically ones that have been undermanaged o