Global law firm Ashurst has advised Alberta Investment Management Corporation (AIMCo) on its co-investment with Singapore based private equity firm Seraya Partners in Cyan Renewables.
Headquartered in Singapore and majority owned by Seraya Partners, Cyan Renewables is Asia’s first dedicated offshore wind vessel operator supporting the fast-growing offshore wind farm industry and the marine sector’s transition from blue to green. Cyan Renewables recently successfully completed its acquisition of Australian offshore marine services provider MMA Offshore for US$714M. This transaction marks the region’s largest take-private deal in the offshore wind energy services industry, strengthening Cyan’s position in the Asia Pacific region and underscoring the sector’s crucial role in achieving net zero goals. The acquisition was supported by a number of co-investors, including AIMCo.
Partner Michelle Phang said:
“We have enjoyed working with the AIMCo team to bring this transaction to a successful close. Congratulations to AIMCo, Seraya Partners and Cyan Renewables.”
Partner Dean Moroz added:
“We’re pleased to have been able to support AIMCo on this landmark transaction, which is the first of its kind to have been originated and executed from their new base in Singapore. Congratulations again to all involved.”
The transaction was led by Partner , with support from Partner , Counsel and Associate Michael Utama, and further support from , , , Luis de Freitas, , Bonnie Paton, Jasmine Fox, , , , , Danny Xie, , , , , , and .
