Good day Pro PE readers. Market uncertainty, inflation and supply-chain issues appear to have stymied private-equity deal making across a number of sectors, particularly technology, as the valuation gap between buyers and sellers widens. But companies that offer technologies and services that help combat climate change continue to find favor with many investors, as our Wall Street Journal colleague Amrith Ramkumar writes this morning. WSJ Pro Private Equity’s Luis Garcia also delves into the appeal of clean energy, particularly battery storage, in a conversation with Quinbrook Infrastructure Partners co-founder David Scaysbrook.

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Green technology companies have been hammered in the stock market, but private investors are still pouring cash into the sector. The latest deal is a $750 million investment into a fast-growing renewable energy provider by several funds including TPG Inc., Amrith Ramkumar writes for The Wall Street Journal. Intersect Power LLC and three other climate startups have together raised more than $1.6 billion in the past week. Large investment firms and venture capitalists, many with big cash piles, appear to be optimistic about the sector despite the stock-market selloff and worries about high inflation and rising interest rates.

Quinbrook Infrastructure Partners is investing about $1.2 billion in a solar-and-battery project in the state of Nevada, a bet that systems that store electricity for later use will be increasingly important in the shift to clean energy. WSJ Pro Private Equity’s Luis Garcia spoke to Quinbrook co-founder David Scaysbrook about why the firm is betting on battery storage and what challenges it still sees for investors in the sector.

The credit arm of U.K.-based BC Partners said it has acquired a minority stake in renewable-energy investment firm GreenPark Infrastructure LLC, a firm co-founded by two former executives from Tesla and SolarCity that targets real-estate investments in renewable energy. BC Partners said it plans to help expand the firm, which targets investments in land and leases supporting solar and wind farms, battery storage, electric vehicle charging and other clean-energy projects and technologies.

Desjardins Capital and Saturnia Asset Management have joined a group of investors that are backing G2MC to accelerate the Canadian furniture retailer’s expansion in Western Canada, according to a press release. Existing investor Champlain Financial Corp., which helped form G2MC in 2012, is reinvesting in the company, the release stated.

Technology-focused private-equity firm Accel-KKR has made a significant investment in Singletrack, a provider of capital markets customer engagement and analytics technology.

Los Angeles-based Balmoral Funds has closed its acquisition of publicly traded petrochemical facilities operator Trecora Resources for $9.81 a share, according to a press release.

New York-based midmarket firm Sagewind Capital has led an investment in St. Petersburg, Fla.-based security software company Code-X, Inc.

Bluestem Equity, a Houston-based firm focused on investments in businesses in the industrial and construction sectors, made an investment in specialty roofing contractor Tridom Holdings, LLC, according to a press release.

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Clearlake Capital Group has agreed to sell portfolio company Brightly Software Inc. to publicly traded Siemens AG for $1.575 billion in cash and up to $300 million in potential earn-out payments, according to a press release. Clearlake initially backed the Cary, N.C.-based asset management and facilities operation software provider in 2019, when it was known as Dude Solutions, the release stated.

Stellex Capital Management has agreed to sell utility-focused construction company PLH Group Inc. to publicly traded Primoris Services Corp. for $470 million, according to a Primoris press release.

Gladstone Investment Corp. said it has sold Bassett Creek Services Inc. to Watterson, a portfolio company of Highview Capital. Gladstone initially formed the Chicago-based provider of restoration and renovation services in 2018 alongside private-equity firm Bassett Creek Capital.

Paine Schwartz Partners, a private-equity firm focused on investments in sustainable food and agriculture, has hired Natalya Micheals as head of investor relations and Maggie Prager as a director on the firm’s investment team, according to a press release. Ms. Michaels most recently served as a managing director at MidOcean Partners, while Ms. Prager was a director at Bregal Partners and principal at TZP Group, the release stated.

Canadian investment firm Onex Corp. said it has appointed Ronnie Jaber and Sandeep Alva as co-heads of the firm’s credit unit. Both men joined Onex in 2020, according to a press release.

TPG said Gunther Bright is joining the firm’s board of directors as an independent director on July 1, 2022. Mr. Bright is executive vice president and general manager of global and U.S. large enterprises, global commercial services at American Express, according to a press release.

The Institutional Limited Partners Association, a trade organization representing interests of investors in private-equity funds, has named its managing director of industry affairs Jennifer Choi as acting chief executive of the organization, according to a press release. Ms. Choi assumes a role previously held by Steve Nelson until the ILPA board names a permanent successor, the release said. Mr. Nelson, who joined ILPA in 2018, decided to step down from the role this week, the release stated.

Tailwater Capital LLC has launched Tailwater Innovation Partners LLC, an environmental, social and governance research and engineering solutions provider for Tailwater's portfolio companies. Tailwater Innovation Partners, formerly known as Tailwater Technical Consulting, is led by Chief Executive Roger Fox, who is also head of ESG at Tailwater Capital.

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Maria Armental; Ted Bunker; Chris Cumming; Luis Garcia; Laura Kreutzer; Preeti Singh; Chitra Vemuri.

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