Project Pinehurst
Who they are
The largest independently owned solid waste management and recycling company in North Carolina.
Why it matters
Pinehurst provides an essential public service through its waste management operations, servicing Raleigh and Durham, which are currently ranked as two of the fastest-growing markets in the U.S. Further, the company’s scaled platform of landfills owned through life-of-site contacts, transfer stations and collection vehicles create barriers to entry for new and smaller operators.
The bottom line
Our proprietary sourcing network allowed us to gain access to this unique opportunity, while our deep sector knowledge and industry contacts provided valuable insights into the deal.
The HL advantage
Our knowledge of the market and breadth of resources allowed us to bring institutional capital to an unconventional process. Further, as a minority co-investor, we were allowed advantaged insights early in the underwriting process.
Project Zeus
Who they are
A merger of two data center platforms that provides an attractive opportunity to increase scale and position the combined company as a significant U.S. colocation operator for hyperscale, technology and content customers.
Why it matters
This provides attractive fundamentals for data centers, as robust data growth and infrastructure requirements associated with 5G fuel further demand growth.
The bottom line
Project Zeus represented an acquisition that is core to the sponsor’s growth equity investment strategy and presents an opportunity to carve out a diversified and under-managed data center platform and consolidate operations under a premiere operator.
The HL advantage
We’ve had a long-standing view of the sponsor as a telecom and tower operator within existing private equity portfolios prior to committing to their fund and to Project Zeus.
Project Napolean
Who they are
An experienced infrastructure manager focused on Western Europe who has assembled an attractive portfolio of essential core-plus infrastructure assets diversified across countries, sectors and sub-sectors. They enjoy high barriers to entry and provide the potential for strong downside protection.
Why it matters
We acquired the portfolio at an inflection point in the underlying assets’ value creation phase at an attractive discount.
The bottom line
This is a proven manager who has historically generated attractive returns for investors, making its LP interests highly sought after in the secondary market.
The HL advantage
We have a strong relationship with the manager and were able to successfully acquire the position due to our familiarity with the fund and ability to move quickly in the process.
