New Fortress Energy (NASDAQ:NFE) plans to create a Brazilian entity, owned by a consortium of global institutional investors representing over $20 trillion in assets under management. The move is part of a broader recapitalization transaction, which involves exchanging creditor groups' debt instruments for a basket of "New NFE" debt, preferred equity, and common shares. The company expects the transaction to close in mid-2026, subject to customary conditions and regulatory approvals. Existing NFE shareholders are expected to be diluted to 35% of the company's common equity.