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GCM Grosvenor to Buy Interest in Ohio Plant Under Development for $150M

Long Ridge is located on 1,660 acres and includes a 485 MW power plant currently under development, nearly 300 acres of available flat land, two barge docks on the Ohio River, a unit train capable loop track and direct truck access to Ohio Route 7.

The Long Ridge Energy Terminal is located in Hannibal, OH. The Long Ridge Energy Terminal is located in Hannibal, OH.

HANNIBAL, OH—Chicago-based global alternative asset management firm GCM Grosvenor reports it plans to acquire a 49.9% interest in Long Ridge Energy Terminal here from Fortress Transportation and Infrastructure Investors of New York City for $150 million in cash plus an unspecified earn-out.

GCM will acquire the equity stake through its Labor Impact Fund, a closed-end private investment vehicle which seeks to originate and execute infrastructure projects that leverage the inclusion of union labor as a contributing factor to enabling attractive risk adjusted returns.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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