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Auctus, partner establish US asset management JV

Australia's Auctus Alternative Investments Ltd. finalized a deal with a New-York based investment team to establish an asset management joint venture in the U.S.

Auctus will hold a 30% equity stake in RBP Partners LLC, while its joint venture partner will own the remaining 70%. The asset manager will invest US$250,000 from revenue inflows into RBP Partners and issue 1.5 million in options, with strike prices of 60 U.S. cents and US$1, to its business partner, according to an Aug. 29 release.

The joint venture will focus on energy, transportation and communications infrastructure and special-purpose operational real estate. Its initial investment will be in battery storage company esVolta, which is focused on the development and acquisition of large-scale projects for utility customers in North America. Auctus is in the process of closing a US$25 million capital raise via a special-purpose vehicle to fund esVolta's expansion.