Environmental group hires bankers

This is truly the heyday of investment banking. When environmental groups start hiring investment bankers, well, the world has shifted. Environmental Defense, a well known environmental activist group, has retained Perella Weinberg Partners to advise it on the TXU deal. Environmental Defense helped negotiate the much-publicized environmental terms of the deal that allowed Texas Pacific Group, Kohlberg Kravis Roberts and Goldman Sachs to buy the utility. Environmental Defense apparently wants a seat at the table as the negotiations continue. There has been some criticism of the terms. The move may signal a more prominent role for activists in future deals. Perella Weinberg is likely doing this pro bono (or close to it). Seems like good marketing.  

For more:
- here's the New York Times article
Also: Texas faces an energy shortage. Article