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With the completion of the transaction, Fundamental will be well positioned to capitalize on the growing shift toward renewable energy, allowing the platform to better meet the financing needs of renewable energy developers, owners, and operators throughout the country.

Following the transaction, the company's team will operate as Fundamental Renewables, the newly established renewable and clean energy investment arm of Fundamental. The team will continue to focus on growing its core solar development and construction lending strategy, with the added flexibility provided by the Fundamental platform to offer new and complementary financing solutions outside of its traditional solar lending business.

Bob Hopper, the founder of the company's renewables business, MMA Energy Capital, will join Fundamental Renewables and will continue to oversee the long-term strategic direction of the platform.

Fundamental is a leading alternative asset manager based in New York City, focused on municipal, public purpose, and community assets. Founded in 2007, the firm is focused on targeting control-oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose or community assets, and acquiring undervalued securities in the secondary market. Fundamental invests through a range of vehicles that capitalize on the growing opportunity set in the municipal market.

Houlihan Lokey served as financial advisor to Fundamental and assisted in structuring and negotiating the transaction.

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