Liberty Mutual Investments and Elda River Capital Management Form Strategic Partnership Targeting up to $500 Million in Capital

HOUSTON & BOSTON--(BUSINESS WIRE)--Liberty Mutual Investments (“LMI”), the investment firm for Liberty Mutual Group (“Liberty”), and Elda River Capital Management, LLC (“Elda River”), a real assets investment firm focused on energy and energy infrastructure, today announced a new strategic partnership targeting up to $500 million in credit investments. The partnership builds on a long-standing relationship between the two firms and broadens the suite of senior credit solutions that Elda River can offer to high-quality, middle-market borrowers across core sectors, including energy and infrastructure, power and renewables, and energy efficiency.

“We are proud to partner with LMI to launch this highly flexible credit strategy,” said Adam Daley, Managing Partner and Co-Founder of Elda River. “LMI has been a valued, long-standing partner, and this strategic partnership is an exciting extension of that relationship. We look forward to leveraging both firms’ collective capabilities to capitalize on an exceptional opportunity set in the middle market across our core energy and infrastructure sectors.”

Elda River’s senior team has invested together for more than two decades across multiple market cycles, collectively committing over $7.5 billion to more than 70 private investments. The firm invests across the capital structure through both equity and credit strategies, applying a differentiated approach built on deep sector specialization, direct sourcing, and strong alignment with talented executive teams.

“We are excited to work alongside Elda River to capitalize on an attractive opportunity set in the energy and infrastructure credit markets,” said John Kim, Head of Alternative Credit at Liberty Mutual Investments. “This commitment reinforces the breadth and strength of LMI’s platform in providing a diverse array of credit solutions side-by-side with our strategic partners.”

“We’re seeing robust secular growth across energy supply, electrification, grid stability, re-industrialization, and digitalization, creating a clear industry need for tailored credit solutions over the long term,” said Charley Poole, Head of Energy & Infrastructure at Liberty Mutual Investments. “LMI’s flexible approach allows us to move quickly to partner with Elda River, a leader with deep expertise in the space, and support its continued growth.”

LMI invests more than $130 billion of long-term capital globally across its integrated platform on behalf of Liberty. The partnership reflects LMI's ongoing expansion and diversification of its Energy & Infrastructure and Alternative Credit platforms. LMI leverages a flexible investment approach with its partners to build enduring businesses and invest behind industries needed to drive economic growth.

About Liberty Mutual Investments

Liberty Mutual Investments (LMI) is the investment firm for Liberty Mutual Group (Liberty), a global insurance and capital solutions partner. With deep expertise in liquid, credit, and alternative strategies, LMI invests more than $130B of capital globally, taking a long-term approach across its integrated platform. LMI has a clear purpose: build enduring businesses side-by-side with its partners, drive economic growth, and generate superior risk-adjusted returns that power Liberty's strategy and secure its promises.

Liberty Mutual Group Asset Management Inc. does business under the name Liberty Mutual Investments. For more information, visit https://www.libertymutualinvestments.com/.

About Elda River Capital Management, LLC

Elda River Capital is a real assets investment firm focused on energy and energy infrastructure opportunities. The Elda River team has committed over $7.5 billion using a differentiated investment approach that prioritizes direct sourcing and strong alignment with talented executives. Elda River is headquartered in Houston, Texas and maintains additional offices in Chicago, Illinois, and London. Visit www.eldariver.com for more information.

Important Information and Disclosures

This press release is provided for informational purposes only and does not constitute investment advice or an offer to sell, or a solicitation of an offer to buy, any securities or interests in any investment fund or vehicle. Liberty Mutual Group Asset Management Inc. (d/b/a Liberty Mutual Investments) provides investment advisory and management services only to insurance companies and wholly owned direct or indirect subsidiaries of Liberty. This press release may contain forward-looking statements that are as of the date of this press release; actual results may differ materially, and Liberty undertakes no obligation to update such statements. Additional information is available at www.libertymutualgroup.com/investors.