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33% Stake In Parent Of Major Investor In Retail Supplier To Be Sold
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IIF US Holding 2 LP (IIF US Holding 2, part of the Infrastructure Investments Fund, IIF) sought FERC approval for the
disposition of jurisdictional facilities that will result from the transfer of an approximately 33.3%
membership interest in the general partner of IIF US Holding 2 from one private individual,
Christopher Ward (Seller), to another private individual, Rudolph Wynter (Buyer).
In the FERC application, IIF US Holding 2 LP included a list of "public utilities" (in FERC parlance, this can mean a retail energy supplier which has FERC market-based rate authority and is subject to FERC jurisdiction) which are "indirect subsidiaries" of IIF US Holding 2 LP
This listing by IIF US Holding 2 LP included retail energy supplier EnergyMark, LLC as an indirect subsidiary of IIF US Holding 2 LP.
Previously, when IIF US Holding 2 LP applied in 2022 at FERC and ultimately acquired South Jersey Industries, IIF US Holding 2 LP indicated that South Jersey Industries indirectly
owned 33% of EnergyMark.
IIF US Holding 2 LP's new application at FERC was not explicit as to whether IIF US Holding 2 LP's share of EnergyMark remains 33%
IIF US Holding 2 LP also owns El Paso Electric and various generation
IIF US Holding 2 is controlled by its general partner, IIF US Holding 2 GP, LLC (IIF 2 GP),
which holds all of the general partner interests (which are non-economic) in IIF US Holding 2
IIF 2 GP is currently owned by three private individuals, Rita J. Sallis, Christopher Ward, and
Anne Cleary (IIF 2 GP Owners), each of which owns an approximately 33.3% interest in IIF 2
GP.
Pursuant to the transaction, Rudolph Wynter will acquire Christopher Ward's approximately 33.3% interest in
IIF 2 GP, which will result in a change in control over IIF US Holding 2 LP's "public utility" subsidiaries under section 203(a)(1) of the
FPA. The remaining interests held by Rita J. Sallis and Anne Cleary in IIF 2 GP will not be
affected by the transaction.
Buyer Rudolph Wynter is a private individual. Buyer currently does not own, operate or control any
electric generation or transmission facilities in the United States or, in the case of transmission
facilities, outside of the United States that can be used to reach markets in the United States.
IIF 2 GP has engaged J.P. Morgan Investment Management Inc. (JPMIM) to provide
certain investment advisory services to IIF US Holding 2.
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July 22, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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