Schulte represented CarVal Investors in raising $490 million in total capital commitments for CVI Clean Energy Fund (“CEF”), exceeding its initial target size of $250 million. CEF is focused on credit and hard-asset investments in the clean energy sector and is a continuation of CarVal’s platform for renewable energy private debt transactions. CarVal Investors, an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies, has invested over $2 billion in clean energy since 2017. CarVal Investors has approximately $10 billion in assets under management in corporate securities, loan portfolios, structured credit and hard assets.
The Schulte team advising CarVal was led by investment management partner David Nissenbaum, tax partner David Griffel and former Schulte lawyer David Passey. The team also included investment management associate Alexis Marion and former associate Bojun Xu; tax partner Philippe Benedict and special counsel Christine Harlow; finance & derivatives partner Daniel Oshinsky and of counsel Ronald Risdon; employment & employee benefits partner David Cohen; and former Schulte lawyer Joseph Vitale.