MoFo Advises Generate Capital in $1.5 Billion Fundraise with New Investors CalSTRS and HESTA

Morrison Foerster advised Generate Capital (“Generate”), a leading sustainable infrastructure platform, in connection with its latest capital raise with $1.5 billion in new capital commitments from preeminent global institutional investors. The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, joined other new investors such as HESTA, as well as existing investors including QIC and AustralianSuper, in the financing. This new round brings the total capital raised by Generate since its inception in 2014 to over $10 billion.

Over the last decade, Generate has developed a creative and flexible platform dedicated entirely to accelerating the infrastructure transition – from building and financing infrastructure assets to incubating, building and financing leading infrastructure companies. Since its founding, Generate has partnered with more than 50 project development and technology companies, dozens of investors and hundreds of communities to establish a diverse portfolio of thousands of sustainable infrastructure projects around the world.

MoFo previously advised Generate in its $2 billion fundraise in 2021 and $1 billion fundraise in 2020.

The MoFo team advising Generate was led by San Francisco corporate partners Suz Mac Cormac and Benjamin Fox and San Diego corporate partner Shai Kalansky, together with New York corporate associate Stefan A. Rajiyah and San Francisco corporate associate Daniel Quintana.

Read the company’s press release.