Hull Street Energy Closes Third Institutional Fund

BETHESDA, Md., April 2, 2025 /PRNewswire/ -- Hull Street Energy, LLC ("HSE"), a prominent energy transition investment firm headquartered in the Washington, D.C. metropolitan area, has successfully closed Hull Street Energy Partners III, L.P. ("Fund III"). Targeting strategic investments in the North American power sector amid ongoing decarbonization and electrification of the economy, Fund III was oversubscribed, securing total commitments of approximately $2.2 billion in a fundraising that began about a year ago. HSE received substantial support from institutional investors, including endowments, foundations, insurance companies, pension plans, asset managers, and family offices. 

Fund III made its first investment late last year, acquiring 300 megawatts of critical power generation capacity in New York. It has also entered into an agreement to acquire certain assets in the Midwest and has begun developing a one gigawatt gas-fired peaker project in Texas in association with the Texas Energy Fund. 

"In today's power industry, we are all working to enhance sustainability while maintaining reliability, growth, and affordability," said Sarah Wright, HSE's Founder and Managing Partner.  "HSE deploys capital where it best advances this mission.  Our senior team has combined their distinctive technical and commercial expertise, derived from decades of managing power generation assets and system load, with our highly selective approach to talent acquisition to drive expansion.  Our rigorous analytical framework, defined by an authentic curiosity about what's coming next, has enabled us to make significant contributions to the industry's rapid evolution while delivering strong, risk-adjusted returns to investors over the past decade.  We are grateful for the enthusiasm of our high-caliber investors who have chosen to partner with us."

HSE is differentiated by its deep understanding of local and regional physical electricity markets and grid operations, and its highly quantitative approach to evaluating and operating middle-market power sector assets and businesses.  In total, HSE has led the optimization of over 4 gigawatts of operating renewable and gas-fired power generation assets; advanced the development of approximately 10 gigawatts of new renewable, gas-fired, storage resources; and played a pivotal role in growing several critical power grid service businesses.  Since inception, HSE has raised over $5.0 billion in equity and debt capital. 

Campbell Lutyens served as global placement agent for Fund III and DLA Piper LLP (US) served as fund counsel.

About Hull Street Energy, LLC

HSE and its affiliates specialize in deploying private capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the HSE team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals, and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, advanced energy storage, transmission and distribution systems, as well as electricity demand-side businesses, to build value for stakeholders. The organization is led by Sarah Wright, Michael Booth, Mark Orman, Matthew Willis, and Edward Quinn, a team of investment and power industry professionals who worked together for over two decades at leading energy focused Institutions, including Goldman Sachs and Constellation Energy Group. For further information, please see www.hullstreetenergy.com.

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SOURCE Hull Street Energy