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Adage Capital Management Discloses New Position In Post-IPO Nextera Energy Partners LP (NEP)

Is Nextera Energy Partners LP (NYSE:NEP) a good investment? Phill Gross and Robert Atchinson seem to think so. According to a recent filing with the Securities and Exchange Commission, their fund, Adage Capital Management has acquired approximately 1.22 million shares, which gives it control over 7.54% of the total number of shares outstanding.

Phill Gross Adage Capital Management

So far, from the hedge funds that we track, Adage Capital Management is the first one to to add Nextera Energy Partners LP (NYSE:NEP) to its equity portfolio. The company has closed its Initial Public Offering (IPO) on July 1. 16.2 million shares of common stock were issued at a price of $25 per unit. Options for additional 2.43 million shares were offered to the underwriters, who have exercised them in full. Nextera Energy Partners LP (NYSE:NEP) has announced net proceedings from the offering of $442.7 million, which are to be used for general corporate purposes and for future expansion of its core activities.

Disclosure: none.

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