Executive Summary & Targets
account_balance Fund Terms & Fee Structure
show_chart Target Economics & Fund Model
- • Management fees: 2.00% on committed capital during the commitment period and on invested capital thereafter
- • Carried interest: 20% of total returns over a hurdle of 8% (calculated on a whole of fund basis), 100% catch-up (European-style waterfall)
- • Fund term: 10 years from the initial closing date, subject to extension
- • Target size: $750 million
GP Team & Core Principals
Deployment & Portfolio Construction
explore Investment Strategy Focus
pie_chart Portfolio Construction
GP Prior Performance & Case Studies
history Prior Vehicles Performance
lightbulb Strategic Case Studies
Company A (Pipeline Target)
Proposed transformer services platform that will provide repair, refurbishment, decommissioning, field solutions, and recycling to utilities and independent power producers.
Company B (Pipeline Target)
Proposed tech-enabled energy advisor to help commercial, industrial, and municipal clients navigate energy markets, sustainability goals, and resiliency.
Seed Assets & Warehoused Pipeline
work Pipeline & Warehoused Deals
Company A (Transformer Services Platform)
Transformer services platform providing one-stop shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions and recycling.
Company B (Tech-enabled Energy Advisor)
Tech-enabled energy advisor for energy management and procurement serving commercial, industrial and municipal customers. Helps clients navigate complex energy markets, sustainability goals and energy resiliency.
Company A (Fiberglass Window Systems)
Manufacturer of energy-efficient fiberglass window systems
Company B (Sustainability Consulting)
Sustainability tech-enabled consulting firm with a focus on technical tasks like carbon accounting, life cycle assessment (LCA) and sustainability reporting
Company C (Regional Energy Advisory)
Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial and municipal customers accelerating clean energy adoption
Company D (Global Energy Consulting)
Global energy consulting firm assisting commercial and industrial organizations manage their energy management and sustainability processes
Company E (BESS, Wind & Solar O&M)
BESS, wind, and solar O&M and commissioning services, including maintenance and inspection, repairs, cleaning and data analysis
Company F (Corporate Carveout ESCO)
Corporate carveout ESCO opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings
Company G (Advanced Energy Storage)
Manufacturer of advanced energy storage systems displacing diesel-powered equipment
Company H (Steel Poles & Structures)
Manufactures steel poles and structures to the Electric Utility and Renewable Energy Industries
Company I (HVAC & Refrigeration Systems)
Manufacture, install, and maintain heating, cooling, and refrigeration systems for commercial and industrial clients, using natural refrigerants and low-carbon technologies to optimize energy efficiency
Company J (Home Energy Assessments)
Offers home energy assessments, HVAC, insulation and other related energy-efficiency contracting primarily in Massachusetts
Narratives & Legal Framework
description Analyst Slides Narratives
Investment Thesis, Sourcing, and Value Creation
"Power Sustainable Decarbonization (PSD) targets the underserved North American lower middle-market buyout segment, focusing on profitable decarbonization solution providers with EBITDA between $5M and $15M. The strategy leverages the Power Corporation of Canada (PCC) ecosystem for proprietary sourcing and applies a structured value creation playbook to institutionalize operations and quantify sustainability metrics, targeting a 25% gross IRR."
- • Addresses a critical market gap where less than 5% of global climate capital is focused on buyouts, resulting in limited competition from sector-focused private equity peers.
- • Led by a 'third-time team' of Managing Partners Karine Khatcherian and Martin Aares, bringing over 80 years of combined sector and investment experience.
- • Leverages the extensive Power Corporation of Canada (PCC) ecosystem, including affiliates like Sagard and Great-West Lifeco, for proprietary deal flow and customer/vendor introductions.
- • Targets North American companies with EBITDA up to US$30M, deploying US$30M-$100M per transaction for control or significant minority ownership.
- • Implements a systematic value creation playbook focused on operational scaling via bolt-ons, revenue expansion, leadership alignment through equity incentives, and rigorous GHG emission reporting.