EQT AB, a Swedish private equity company EQT Infrastructure’s V fund, has agreed to purchase Cypress Creek Renewables from funds controlled by HPS Investment Partners, LLC and Temasek. The acquisition is scheduled to conclude in the second half of 2021, subject to normal conditions and approvals. In conjunction with the transaction, Barclays served as financial adviser to EQT Infrastructure, while Simpson Thacher & Bartlett LLP provided legal counsel. Further, Morgan Stanley & Co. LLC served as Cypress Creek’s exclusive financial adviser, while Kirkland & Ellis LLP served as legal counsel. Based on its target fund size and subject to normal regulatory clearances, EQT Infrastructure V is projected to invest 35-40 per cent in this transaction.