Newlight Partners has invested $106 million in Bioenergy Development Co., as the private-equity firm continues to pursue renewable-energy deals after spinning out of Soros Fund Management last year. Based in Columbia, Md., the company, also known as Bioenergy DevCo, builds and operates anaerobic-digestion facilities that produce natural gas and fertilizer. The process uses microorganisms to convert organic waste into fuel and digestate, a material rich in soil nutrients. (PDF attached)