Axium Infrastructure closes acquisition of equity interests in natural-gas power generation portfolio from Capital Dynamics

MONTREAL and NEW YORK, March 16, 2017 /PRNewswire/ - Axium Infrastructure (Axium) is pleased to announce the closing of a transaction in which Axium has acquired an equity interest in the Kings Mountain Energy Center (KMEC) and the Middletown Energy Center (MEC), two natural-gas fired generation assets that are currently under construction in North Carolina and Ohio. Axium will own an approximately 25.0% equity interest in KMEC and an approximately 19.6% equity interest in MEC.

The two projects will utilize state-of-the-art Mitsubishi Hitachi Power Systems combined-cycle technology. The projects are expected to achieve Commercial Operation Date in 2018 and will have a combined total capacity of 948 MW. The projects will be managed by affiliates of NTE Energy, a leading independent power producer who is responsible for the development and ongoing construction and asset management for each of the projects.

"We are very pleased to enter the equity partnership with Capital Dynamics. These high quality assets will benefit from solid revenue profiles derived from long-term off-take as well as capacity and energy payments" said Thierry Vandal, President of Axium Infrastructure US Inc. "We continue to grow our US investment portfolio which now includes 20 assets diversified across wind, solar and natural-gas power generation technologies" added Mr. Vandal.

"Capital Dynamics is very pleased to have Axium as a partner in these projects," says John Breckenridge, Head of Clean Energy and Infrastructure Investment Management at Capital Dynamics. "As long-term holders of these assets, which are part of a global portfolio of gas, wind and solar plants that now exceeds 2,300 MW, we had been looking for a partner with a similar approach along with deep financial and technical capability."

Morrison & Foerster LLP acted as legal advisor to Axium and Amis, Patel & Brewer, LLP acted as legal advisor to Capital Dynamics.

About Axium Infrastructure Inc.:
Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium manages dedicated infrastructure funds having approximately C$2 billion in assets under management as of December 31, 2016, as well as more than C$1 billion in co-investments. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. The firm benefits from the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating and managing infrastructure assets.

About Capital Dynamics:
Capital Dynamics (the "Firm") is an independent, global asset manager, investing in private equity as well as clean energy and infrastructure. We are client-focused, tailoring solutions to meet investor requirements. The Firm manages investments through a broad range of products and opportunities including separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has over USD 27 billion in assets under management/advisement¹.

Our investment history dates back to 1988. Our senior investment professionals average over 20 years of investing experience across the private equity spectrum². We believe our experience and culture of innovation give us superior insight and help us deliver returns for our clients. We invest locally while operating globally from our London, New York, Zug, Tokyo, Hong Kong, San Francisco, Munich, Birmingham, Seoul and Scottsdale offices.

¹Capital Dynamics comprises Capital Dynamics Holding AG and its affiliates; assets under management/advisement, as of September 30, 2016 include assets under discretionary management, advisement (non-discretionary), and administration across all Capital Dynamics affiliates.
²Average years of experience held by Capital Dynamics' Managing Directors and Directors in Investment Management.

SOURCE Axium Infrastructure Inc.

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