Milbank Advises Korean Investors on Acquisition of Stake in Linden Topco

NEW YORK,Aug. 31,2018 --Milbank,Tweed,Hadley & McCloy LLP represented Korean investors Hana Alternative Asset Management and Mirae Asset Daewoo in acquiring,along with Korean independent power producer GS EPS,a 10% equity stake in Linden Topco LLC,the indirect owner of a 972MW gas-fired combined-cycle cogeneration facility ( "Linden Cogen") in Linden,New Jersey.

The sellers were funds managed by Ares EIF Management,LLC,Oaktree Capital Management,L.P. and their respective co-investors.

Linden Cogen is a modern,environmentally efficient power plant electrically connected to both the nearby constrained New York City power market,also known as NYISO Zone J,and the PJM PS-North Zone. Linden Cogen also includes a 234 MW expansion project (Linden 7) under development.

The Milbank team was led by Global Corporate partner John Franchini together with associates James Ebberson and Christopher Balch; Global Project,Energy and Infrastructure Finance partner Allan Marks together with regulatory advisor James Liles and associates Kristine Wang,Hannah Hyon,and Natalie Karl; and Tax partner Drew Batkin together with associate Jules Mugema.

Mr. Franchini noted: "We're pleased to work with Hana and Mirae in this important investment in a key U.S. power asset,and are encouraged by the continued interest by sophisticated Korean-based investors in the US energy markets."

Mr. Marks said: "We look forward to continuing our work on behalf of Hana and Mirae as Korean investors embark on a partnership that will see more gasfired power and renewable energy investments in the US in the coming years."

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From: Jocelyn De Carvalho,Public Relations Manager; 212-530-5509; jdecarvalho@milbank.com