Digital infrastructure investor DigitalBridge is acquiring energy investor ArcLight Capital Partners.

Announced this week, DigitalBridge has entered into a definitive agreement to acquire ArcLight for a total transaction value of up to $1.05 billion.

– DigitalBridge

The deal includes a base purchase price of $650 million, plus up to an additional $400 million of contingent consideration.

“The combination forms a leading alternative asset manager at the convergence of power, AI, and digital infrastructure, bringing together two specialist platforms with combined assets representing more than $150 billion,” the companies said.