Montreal, Quebec – November 29, 2022 – Power Sustainable, an alternative asset manager focused on sustainable investments, announced today that it has closed Vintage II of its Power Sustainable Energy Infrastructure Partnership (PSEIP). The Partnership has raised $600M of additional capital commitments from new and existing capital partners, including pension funds, financial institutions, institutional investors and family offices.
PSEIP’s Vintage II has received renewed support from founding partners Desjardins Group (led by Desjardins Global Asset Management), Empower Annuity Insurance Company of America, and Après-demain SA, as well as new commitments from Fonds de solidarité FTQ, the Coutu Family Office and Canada Post Corporation Registered Pension Plan. This capital is incremental to the initial $1B that was raised as part of the first Vintage of the Partnership, which has almost been entirely deployed since the fund’s creation in 2021.
“We are thrilled by the new commitments from our investors that bring the total committed capital of PSEIP to $1.6B,” said Olivier Desmarais, Chairman and CEO of Power Sustainable. “In this volatile market, PSEIP’s fast growth is a testament to the team’s robust strategy, impactful investments, and exceptional deployment capabilities. Moreover, it is another important milestone in our journey to catalyze capital in support of the transition towards a low-carbon global economy.”
“We are delighted to welcome new investors to the Partnership, and we are grateful for the continued confidence of our returning investors,” said Pierre-Olivier Perras, Managing Partner of Power Sustainable Energy Infrastructure Partnership. “Since the inception of the Partnership almost two years ago, we have deployed significant capital towards developing, owning and operating long-life renewable energy projects. With these new commitments, we will continue investing to support North America’s energy transition while generating strong and stable returns for our partners.”
The Power Sustainable Energy Infrastructure Partnership is led by Pierre-Olivier Perras, Managing Partner, and John Pires, Partner, who joined the team at the beginning of this year. John brings nearly 25 years of experience in the renewables and power-related infrastructure sector. He previously was the Global Head of M&A and Project Finance at Northland Power, and at Brookfield Renewable, where he focused on M&A and Corporate & Project Finance. He currently serves on the Board of Directors for Nautilus Solar Energy and Potentia Renewables Inc.
About Power Sustainable
Power Sustainable is a sustainable investment manager with offices in Canada, China, and the United States. Power Sustainable invests in companies and projects with the potential to deliver returns while contributing to decarbonization, social progress and quality growth. With approximately CA $4.2B of assets under management, Power Sustainable deploys purposeful capital in infrastructure, private equity, and public equities. For more information, visit www.powersustainable.com.
About Power Sustainable Energy Infrastructure Partnership
The Power Sustainable Energy Infrastructure Partnership (PSEIP) is a leading North American infrastructure platform that invests in renewable energy assets and infrastructure. With $1.6 billion in committed capital, the Partnership aims to accelerate the transition to a low-carbon economy, through a portfolio of distributed and utility-scale solar, wind and energy storage assets. The Partnership has contributed to distributing 1.6 GW to commercial and residential clients across North America. PSEIP is part of Power Sustainable and owns Potentia Renewables and Nautilus Solar.
David Gagnon, Head of Business Development and Partnerships