| Good morning, Hubsters. MK Flynn here with today’s Wire. Since the beginning of the year, I’ve been conducting Q&As with high-profile investors on various themes and trends. Today, my series continues with a look at what it takes to succeed in the food and beverage industry. Donuts and pretzels. The best opportunities are family- and founder-owned businesses and corporate carveouts, Peak Rock Capital's Yoni Riemer told me. The Austin-based firm has made 13 platform investments in the food and beverage sector over the last 10 years. Last year, the firm sold of Dot's Pretzels, the owner of Dot's Homestyle Pretzels, and Pretzels Inc., to Hershey for $1.2 billion. When asked what makes a food and beverage business attractive, Riemer responded: “Businesses that have resilient and recurring demand profiles as well as excellent operational capabilities, and where management teams have demonstrated an ability to execute their growth plan throughout volatile markets, are likely to be more successful than businesses that are more dependent, or sensitive to, more fickle consumer trends.” Read the full story. Solar power. Community solar projects have become an attractive way to offer renewable energy to both commercial and residential users, satisfying the investment appetite for large PE firms such as Apollo, which made a $175 million strategic investment in Summit Ridge Energy last week. PE Hub’s Ob Martin Manayiti caught up with Apollo partner Corinne Still to understand more about why this is the right time for the firm to invest in this space. She, along with Wilson Handler, another partner at Apollo, will be joining the Summit Ridge board. “In a way, it’s very similar with farm to table, it’s like solar power to table,” Still said. “It’s all within the ecosystem of a given state.” Read the full story. Oil and gas. Buyouts’ Kirk Falconer reports this morning that Kimmeridge, an energy private equity firm with an activist bent, exceeded the $500 million target for its second public engagement offering, according to sources. Kimmeridge Energy Engagement Partners II, launched last November, will continue fundraising with an eye toward the vehicle’s hard-cap of $1 billion, sources said. (Kimmeridge declined to comment.) If Kimmeridge’s latest offering hits the $1 billion cap, it will be one of the largest traditional energy pools raised in recent years. Along with its activist strategy, Kimmeridge invests in privately held, low-cost unconventional oil and gas assets in the US E&P sector. For more, read the story. Strength in numbers. Mid-Ocean Partners has launched the Women’s Awareness Initiative to bring together institutions committed to advancing gender diversity in the asset management industry. WAI will seek to achieve this mission via workshops and programming aimed at helping women build relationships and hone career-related skillsets. Established by MidOcean managing director and ESG/compliance officer Candice Richards, WAI is endorsed by Institutional Limited Partners Association. Founding members include The Riverside Company, Avante Capital Partners, and Churchill Asset Management. I’m looking forward to seeing WAI in action! That’s all for today. Buyouts’ Chris Witkowskiwill write tomorrow’s Wire, and I’ll be back on duty Wednesday. Cheers, MK Read the full wire commentary on PE Hub ... | 