Overview
The Adviser, a Delaware limited partnership, provides investment advisory services to
investment vehicles and funds privately offered to qualified investors in the United States and
elsewhere. The Adviser was formed in March 2018 and commenced operations in October 2018. The
Adviser is principally owned by David Wassong and Ravi Yadav (together, the “Principals”). Unless
the context otherwise requires, references in this Brochure to the Adviser or the Firm include both
Newlight Partners LP, and any future investment advisers and fund general partner entities with which
it is affiliated.
The Adviser's clients are private investment funds (each, a “Fund” and together with any other
related investment vehicles and future private investment funds to which the Adviser provides
investment advisory services, the “Funds”). The general partner of each Fund (each, a “General
Partner,” and collectively, together with any future affiliated general partner entities, the “General
Partners”) is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with
SEC guidance. This Brochure also describes the business practices of the General Partners, which
operate as a single advisory business together with the Adviser.
The Adviser's investment advisory services to the Funds are detailed in the relevant Fund's
management agreement, partnership agreement and/or other governing or offering documents
(collectively, the “Governing Documents”) and generally consist of some or all of the following:
identifying and evaluating investment opportunities, negotiating
the terms of investments, managing
and monitoring investments and achieving dispositions for such investments. Where the Funds invest
in operating entities (“portfolio companies”), the Principals or other personnel of the Adviser or its
affiliates generally serve on such portfolio companies' respective boards of directors or otherwise act
to influence management of portfolio companies in which the Funds have invested.
The Adviser's advisory services to the Funds are further described below under Item 8
“Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in the Funds (generally
referred herein as “investors” or “limited partners”) participate in the overall investment program for
the applicable Fund, but may be excused from a particular investment due to legal, regulatory or other
agreed-upon circumstances pursuant to the relevant Governing Documents. The Funds or their
affiliates generally expect to enter into side letters or other similar agreements (“Side Letters”) with
certain investors that have the effect of establishing different or preferential rights or terms, including
but not limited to different fee structures, information rights, co-investment rights, and liquidity or
transfer rights under, or otherwise altering or supplementing the terms of, the relevant Governing
Documents with respect to such investors. As described further in Item 8, the Adviser expects to
provide co-investment opportunities to certain current or prospective Fund investors or other parties.
As of December 31, 2023, the Adviser managed client assets of $3,467,980,636.