D1 Capital Partners Leads $1 Billion Investment in Kraken

Paul, Weiss advised D1 Capital Partners on its equity investment in Kraken, the London-based technology arm of Octopus Energy that provides its AI-powered operating system to energy utilities worldwide. The $1 billion funding round was led by D1 Capital Partners alongside investors including Fidelity International, Durable Capital Partners and Ontario Teachers’ Pension Plan Board. The transaction values Kraken at $8.65 billion and paves the way for its planned separation from the Octopus Energy group.

The Paul, Weiss team was led by corporate partners Oliver Marcuse and Ted Ackerman, and included partner Christopher Sullivan and counsel Justin Fraterman; intellectual property partner John Patten and counsel Georgina Hoy; and tax partners Brian Krause and Matthew Jordan.