Two Firms Aid Aflac’s $2.1 Billion Denham Sustainable Investment

Debevoise & Plimpton said it advised Aflac Global Investments, insurer Aflac Inc.’s asset management arm, on its investment in Denham Capital that aims to tap a projected multi-trillion dollar market for infrastructure to fight climate change.

Latham & Watkins advised Denham, a Boston-headquartered energy and resources private equity firm.

Aflac Global Investments is committing $2 billion to Denham Sustainable Infrastructure’s new debt platform and $100 million toward its next equity fund. It will hold a 24.9% equity interest in Denham Sustainable Infrastructure, according to a statement.

Aflac said its investments will harness Denham’s expertise to source attractive opportunities to support infrastructure assets dedicated to environmental and social sustainability.

Its statement cites a recent report that anticipates a global sustainable infrastructure market reaching $100 trillion to $150 trillion market by 2050.

“Now is the optimal time for this transaction as we look to provide solutions across all parts of the capital structure,” said Stu Porter, founder, managing partner, CEO and CIO of Denham Capital. “The partnership with Aflac will trigger the rapid growth of our sustainable infrastructure platform, enabling Denham to play a pivotal role in accelerating the transition toward an electrified, clean economy.”