Residential solar lender Spruce acquired by debt fund manager
One-time solar loan and lease securitizer Spruce Finance has been bought by HPS Investment Partners, a private debt fund manager that split from JP Morgan Asset Management in 2016.
The transaction took place through Spruce Holdings, a new corporate entity owned by HPS. Spruce will be headquartered in Houston but maintain its executive and M&A offices in San Francisco.Spruce is the result of a 2015 merger between Kilowatt Financial and Clean Power Finance, both of which were backed by Silicon ...
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