TPG Rise Climate’s Investment in Monarch Bioenergy

Kirkland & Ellis advised TPG Rise Climate on the deal.

TPG Rise Climate, a global impact investing platform managed by TPG Global, announced its investment in Monarch Bioenergy. 

Monarch was launched in 2018 between Smithfield Foods and Roeslein Alternative Energy (RAE) to utilize proprietary technology to capture methane emissions from Smithfield’s hog farms and convert methane into carbon-negative renewable natural gas (RNG) to power homes, vehicles and businesses.  With the new investment, TPG Rise will become equal members with the existing joint venture partners and will accelerate Monarch’s development of new RNG projects across the United States.  The type of biogas created by Monarch’s process has consistently received the lowest LCFS carbon intensity scores, reducing greenhouse gas emissions and providing air quality health benefits by reducing surface ozone.

TPG Rise Climate is the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals, the strategic relationships developed across TPG’s existing portfolio of climate-focused companies, and a global network of executives and advisors.

Roeslein Alternative Energy (RAE) is the owner, operator and developer of renewable energy production facilities that convert agricultural and industrial wastes, along with renewable biomass feedstocks to renewable natural gas and sustainable co-products.

Headquartered in Smithfield, Va. since 1936, Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach. With more than 60,000 jobs globally, we are dedicated to producing “Good food. Responsibly®” and serve as one of the world’s leading vertically integrated protein companies. 

The Kirkland team was led by corporate partners Kevin Crews (Picture) and John Furlow with support from associates Jack Chadderdon, Blake Longoria, Tess Dennis and Sam Roberts; and included corporate partners Chris Heasley and Danny Nappier and associate Jonathan Strom; debt finance partners Lucas Spivey and Arthur Lotz and associates Marco Chan and Steven Keithley; tax partners David Wheat, Michael Masri and Lane Morgan; energy regulatory partners Brooksany Barrowes and Drew Stuyvenberg; ESG & Insight partners Alex Farmer and Kaela Colwell; environmental transactions partner Jim Dolphin and associate Courtney Tibbetts; executive compensation Rob Fowler and associate Karsten Busby; technology and IP transactions partner Jeff Norman; IP litigation partner Gianni Cutri; and real estate partner John Goldman.

Involved fees earner: Brooksany Barrowes – Kirkland & Ellis; Karsten Busby – Kirkland & Ellis; Jack Chadderdon – Kirkland & Ellis; Marco Chan – Kirkland & Ellis; Kaela Colwell – Kirkland & Ellis; Kevin Crews – Kirkland & Ellis; Gianni Cutri – Kirkland & Ellis; Tess Elizabeth Dennis – Kirkland & Ellis; James Dolphin – Kirkland & Ellis; Alexandra Farmer – Kirkland & Ellis; Robert Fowler – Kirkland & Ellis; John Furlow – Kirkland & Ellis; John Thomas Goldman – Kirkland & Ellis; Christopher Heasley – Kirkland & Ellis; Steven Keithley – Kirkland & Ellis; Blake Longoria – Kirkland & Ellis; Arthur Lotz – Kirkland & Ellis; Michael Masri – Kirkland & Ellis; Lane Morgan – Kirkland & Ellis; Danny Nappier – Kirkland & Ellis; Jeffery Norman – Kirkland & Ellis; Sam Roberts – Kirkland & Ellis; Lucas Spivey – Kirkland & Ellis; Jonathan Strom – Kirkland & Ellis; Drew Stuyvenberg – Kirkland & Ellis; Courtney Tibbetts – Kirkland & Ellis; David Wheat – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: TPG Rise Climate;