Apollo Funds Launch $220 Million Joint Venture with Bullrock Energy Ventures
Deal News | May 14, 2025 | Orrick
Apollo, a prominent global alternative asset manager with $785 billion under management, has announced a new joint venture with Bullrock Energy Ventures, committing up to $220 million to develop a community solar portfolio in New York and New England. Orrick advised Apollo on the deal. The initiative will see $100 million in equity from Apollo dedicated to Bullrock’s pipeline of nearly 500 MW in renewable energy assets. This venture is aligned with Apollo’s goal of promoting energy transition through investments that enhance grid resilience and expand access to clean power. Orrick's legal team, led by Jeff Quinn-Cane, played a key advisory role.
Sectors
- Renewable Energy
- Private Equity
Geography
- United States – The joint venture focuses on developing solar energy projects across New York and New England.
- New York – One of the primary locations for the development of the community solar portfolio mentioned in the article.
- New England – Another key location for the intended solar energy investment and development.
Industry
- Renewable Energy – The article centers around a joint venture in developing community solar projects as part of a renewable energy initiative across New York and New England.
- Private Equity – Apollo, a major global alternative asset manager, is engaging in this renewable energy investment, indicative of its private equity and asset management activities.
Financials
- $220 million – The total committed amount by Apollo Funds to the joint venture with Bullrock Energy Ventures.
- $100 million – Part of Apollo's equity commitment, specifically funding Bullrock's development of renewable energy assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo Funds | Investor | Company | A global alternative asset manager involved in the joint venture to develop a community solar portfolio. |
| Bullrock Energy Ventures | Joint Venture Partner | Company | Partnering with Apollo to develop a nearly 500 MW pipeline of renewable energy assets. |
| Orrick | Legal Advisor | Company | Provided legal advisory services to Apollo Funds for this joint venture. |
| Jeff Quinn-Cane | Lead Legal Advisor | Person | Led the Orrick team advising Apollo Funds. |
| Henry McKenzie | Legal Advisor | Person | Part of the Orrick advisory team for Apollo Funds. |