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"gemini_markdown": "# Executive summary\n**Power Sustainable Decarbonization (PSD) focuses on scaling lower middle-market companies that decarbonize the economy**\n\n### Intended portfolio characteristics\n\n| | |\n| :--- | :--- |\n| **Sectors** | Energy, industrials, built environment, and transportation |\n| **Regions** | U.S. and Canada |\n| **Category** | Private equity |\n| **Ownership** | Control and significant minority |\n| **Company profile** | Profitable companies with EBITDA up to US$30M, sweet spot of $5M – $15M |\n| **Investment size** | US$30M - $100M per opportunity (approx. 10-12 investments) |\n| **Size** | Targeting US$750M total commitments |\n| **Target Returns** | 25% gross / 20% net IRR |\n\n### Investment leadership\n\n**Karine Khatcherian**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, ABB)*\n\n**Martin Aares**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, AMERICAN EXPRESS)*\n\n* Third time team\n* Extensive network\n* 20+ years each of climate investing experience\n* Gender-balanced\n\n### Current fundraising status\n\n**Total fundraise target of US$750M**\n\n* **Chart Type:** Segmented horizontal bar chart\n* **Total Value:** US$750M\n* **Data Series:**\n * **Left Segment:** $330M (Dark green fill). A curly bracket below indicates this represents \"Committed capital\".\n * **Right Segment:** $420M (Light grey fill). A curly bracket below indicates this represents \"New partners\".\n\n***\n\n<br>\nThe information contained in this presentation does not, in any way, constitute investment advice. The information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering document and other materials and agreements any fund referenced herein. No legally binding terms shall be created until definitive documentation is executed and delivered. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The strategy is newly-organized and no performance history. The terms and conditions set forth herein are subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 2",
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"markdown": "# Executive summary\n**Power Sustainable Decarbonization (PSD) focuses on scaling lower middle-market companies that decarbonize the economy**\n\n### Intended portfolio characteristics\n\n| | |\n| :--- | :--- |\n| **Sectors** | Energy, industrials, built environment, and transportation |\n| **Regions** | U.S. and Canada |\n| **Category** | Private equity |\n| **Ownership** | Control and significant minority |\n| **Company profile** | Profitable companies with EBITDA up to US$30M, sweet spot of $5M – $15M |\n| **Investment size** | US$30M - $100M per opportunity (approx. 10-12 investments) |\n| **Size** | Targeting US$750M total commitments |\n| **Target Returns** | 25% gross / 20% net IRR |\n\n### Investment leadership\n\n**Karine Khatcherian**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, ABB)*\n\n**Martin Aares**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, AMERICAN EXPRESS)*\n\n* Third time team\n* Extensive network\n* 20+ years each of climate investing experience\n* Gender-balanced\n\n### Current fundraising status\n\n**Total fundraise target of US$750M**\n\n* **Chart Type:** Segmented horizontal bar chart\n* **Total Value:** US$750M\n* **Data Series:**\n * **Left Segment:** $330M (Dark green fill). A curly bracket below indicates this represents \"Committed capital\".\n * **Right Segment:** $420M (Light grey fill). A curly bracket below indicates this represents \"New partners\".\n\n***\n\n<br>\nThe information contained in this presentation does not, in any way, constitute investment advice. The information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering document and other materials and agreements any fund referenced herein. No legally binding terms shall be created until definitive documentation is executed and delivered. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The strategy is newly-organized and no performance history. The terms and conditions set forth herein are subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 2",
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"gemini_markdown": "**Karine and Martin’s past experiences provides unique insights for PSD**\n**PSD’s managing partners each have 20+ years of decarbonization investing experience across sectors, deal sizes, and asset classes**\n\n### Experience across key decarbonization sectors³\n**Deal count by sector**\n\n**Karine**\n**Martin**\n\n***\n\n**[Chart Description: Deal count by sector]**\nTwo side-by-side doughnut charts visualize the deal count by sector for Karine and Martin. The total deal counts, as indicated by footnote 3, are 28 for Karine and 22 for Martin. Exact values are not labeled on the charts, but the estimated proportions based on visual slice sizes are as follows:\n\n* **Legend:**\n * **Energy** (Light Periwinkle/Blue)\n * **Industrials** (Dark Green)\n * **Built environment** (Slate Grey/Teal)\n * **Transportation** (Light Grey)\n\n* **Karine's Chart (left):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 15% of the chart.\n * **Transportation:** Smallest segment, comprising approximately 5% of the chart.\n\n* **Martin's Chart (right):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 20% of the chart.\n * *(Note: There is no visible segment for Transportation in this chart).*\n\n***\n\n**Key Metrics**\n\n| **50** | **US$17B+** | **US$165M** |\n| :--- | :--- | :--- |\n| **Deals¹** | **Total transaction volume¹** | **Average check size²** |\n\n<br>\n\n### Key Highlights (Right Column)\n* **✓ 3rd time team** having most recently co-led a lower middle-market buyout fund at Closed Loop Partners\n* **✓ 20+ years in target sectors** Extensive experience working in the target sectors (transactional, strategic, advisory, operational)\n* **✓ Deep understanding of** market dynamics and industry trends\n* **✓ Extensive network in key sectors** across all stakeholders including companies, customers, suppliers, governmental institutions, executives and intermediaries \n\n***\n\n**Footer**\n(1) Includes deals closed, advised, and extensively diligence, (2) closed deals only, (3) denotes number of deals – Karine 28 / Martin 22.\nData reflects the relevant experience in investments by the senior leadership team, prior to joining Power Sustainable. All track records of individuals mentioned throughout have been provided by the named individuals that the track relates to and do not relate to investments made by Power Sustainable. The specific performance figures mentioned within each record have not been subject to independent verification. The information contained here does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 3",
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"markdown": "**Karine and Martin’s past experiences provides unique insights for PSD**\n**PSD’s managing partners each have 20+ years of decarbonization investing experience across sectors, deal sizes, and asset classes**\n\n### Experience across key decarbonization sectors³\n**Deal count by sector**\n\n**Karine**\n**Martin**\n\n***\n\n**[Chart Description: Deal count by sector]**\nTwo side-by-side doughnut charts visualize the deal count by sector for Karine and Martin. The total deal counts, as indicated by footnote 3, are 28 for Karine and 22 for Martin. Exact values are not labeled on the charts, but the estimated proportions based on visual slice sizes are as follows:\n\n* **Legend:**\n * **Energy** (Light Periwinkle/Blue)\n * **Industrials** (Dark Green)\n * **Built environment** (Slate Grey/Teal)\n * **Transportation** (Light Grey)\n\n* **Karine's Chart (left):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 15% of the chart.\n * **Transportation:** Smallest segment, comprising approximately 5% of the chart.\n\n* **Martin's Chart (right):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 20% of the chart.\n * *(Note: There is no visible segment for Transportation in this chart).*\n\n***\n\n**Key Metrics**\n\n| **50** | **US$17B+** | **US$165M** |\n| :--- | :--- | :--- |\n| **Deals¹** | **Total transaction volume¹** | **Average check size²** |\n\n<br>\n\n### Key Highlights (Right Column)\n* **✓ 3rd time team** having most recently co-led a lower middle-market buyout fund at Closed Loop Partners\n* **✓ 20+ years in target sectors** Extensive experience working in the target sectors (transactional, strategic, advisory, operational)\n* **✓ Deep understanding of** market dynamics and industry trends\n* **✓ Extensive network in key sectors** across all stakeholders including companies, customers, suppliers, governmental institutions, executives and intermediaries \n\n***\n\n**Footer**\n(1) Includes deals closed, advised, and extensively diligence, (2) closed deals only, (3) denotes number of deals – Karine 28 / Martin 22.\nData reflects the relevant experience in investments by the senior leadership team, prior to joining Power Sustainable. All track records of individuals mentioned throughout have been provided by the named individuals that the track relates to and do not relate to investments made by Power Sustainable. The specific performance figures mentioned within each record have not been subject to independent verification. The information contained here does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 3",
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"gemini_markdown": "# Experienced New York and Canada-based team supported by institutional governance and operational capabilities\n\n## PSD investment team\n\n* **Karine Khatcherian** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, ABB]\n EN, FR\n\n* **Martin Aares** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, Goldman Sachs]\n EN, NO\n\n* **Natalie Deschamps**\n Principal (15+)\n Canada-based\n [Logos: CPP Investments, McKinsey & Company]\n EN, FR\n\n* **Randy Harrigan**\n Principal (15+)\n NYC-based\n [Logos: ALVAREZ & MARSAL, ROARK CAPITAL GROUP]\n EN\n\n* **Francisco Baviera**\n Associate (2)\n NYC-based\n [Logo: citi]\n EN, FR, SP, CA\n\n* **Katherine Kent**\n Associate (5)\n Canada-based\n [Logo: RBC Capital Markets]\n EN, FR\n\n---\n\n## PSD operating advisors\n\n* **Pete Smith**\n Operating advisor (25+)\n [Logos: Aviat, Honeywell]\n\n* [Profile silhouette]\n **to come**\n\n* [Profile silhouette]\n\n### Legend\nLanguages spoken:\nEN = English, FR = French, CA = Catalan,\nNO = Norwegian, SP = Spanish\n● = PSD investment committee member\n\n---\n\n## PS corporate functions (Montreal)\n\n### PS leadership\n\n| | |\n| :--- | :--- |\n| **Olivier Desmarais**<br>Chairman | **Eoin Ó hÓgáin** ●<br>Partner & CIO |\n| **Bruce Heyman**<br>CEO | **Connor Lyons**<br>Partner & Head of Sustainability |\n| **Delia Cristea**<br>Partner, COO & General Counsel | **May Jan Hum**<br>Chief Compliance Officer |\n| **Dominic Grimard**<br>Partner & CFO | **Lauren Shanahan**<br>Head of Talent & Culture |\n\n### Centralized operations\n\n**40+ professionals**\n* Investor solutions | Sustainability | Human resources\n* Finance & operations | Legal & compliance | IT / systems\n* Board of directors and strategic advisors\n\n### PS investment platforms\n\n**30+ investment professionals**\n* Energy infrastructure equity\n* Infrastructure credit\n* Agrifood growth equity\n\n---\n\nNote: Figures in parentheses represent years of applicable experience, named firms represent prior employers.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** \n4",
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"gemini_markdown": "# Decarbonization and climate resilience is a generational investment opportunity\n\n**Key Investment Drivers:**\n* **Climate imperative** (Thermometer icon)\n* **Technology advancements** (Robot/Machine icon)\n* **Cost competitiveness** (Percentage badge icon)\n* **Deglobalization** (Globe icon)\n* **Increasing market demand** (Upward trend chart icon)\n* **Long-term value** (Price tag icon)\n\n---\n\n## Opportunity to invest in an underserved market with an asymmetric risk/reward profile\nSum of new announced climate investment funds (2022) ¹\n*in billions of USD*\n\n**Bar Chart Description:**\nA column chart displaying the amount of newly announced climate investment funds across three asset classes in 2022. The \"VC / growth equity\" and \"Infrastructure\" bars are colored light gray, while the \"Private equity\" bar is colored dark green and is specifically highlighted with a thin red circle around it to emphasize its comparatively low value. \n\n**Chart Data:**\n| Asset Class | Value (in billions of USD) |\n| :--- | :--- |\n| **VC / growth equity** | $38 |\n| **Private equity** | $3 |\n| **Infrastructure** | $23 |\n\n---\n\n## Annual decarb investments have accelerated, doubling every ~4 years, and must continue to grow to stay on a net-zero pathway\nAnnual global investment in energy transition²\n*in trillions of USD*\n\n**Bar Chart Description:**\nA column chart tracking global investment in the energy transition over time, divided into historical \"Actual\" data and future \"Required\" projections. All bars are dark green. \n- A bracket underneath the years 2012 through 2023 labels them as \"**Actual**\".\n- A bracket underneath the periods 2024-30 through 2040s labels them as \"**Required for net-zero by 2050**\".\n- There are gray arrows with percentage increases connecting the projected periods to show step-up growth.\n - An arrow pointing from 2023 to 2024-30 is labeled **+174%**.\n - An arrow pointing from 2024-30 to 2030s is labeled **+36%**.\n - An arrow pointing from 2030s to 2040s is labeled **+15%**.\n\n**Chart Data:**\n| Year / Period | Value (in trillions of USD) | Category |\n| :--- | :--- | :--- |\n| **2012** | $0.2 | Actual |\n| **2016** | $0.4 | Actual |\n| **2020** | $0.9 | Actual |\n| **2023** | $1.8 | Actual |\n| **2024-30** | $4.8 | Required for net-zero by 2050 |\n| **2030s** | $6.6 | Required for net-zero by 2050 |\n| **2040s** | $7.6 | Required for net-zero by 2050 |\n\n---\n\n**Footnotes & Disclosures:**\n(1) Sightline Climate, Climate Tech VC (2022). (2) BloombergNEF, Energy Transition Investment Trends (2024). \nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. \n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** | 5",
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"markdown": "# Decarbonization and climate resilience is a generational investment opportunity\n\n**Key Investment Drivers:**\n* **Climate imperative** (Thermometer icon)\n* **Technology advancements** (Robot/Machine icon)\n* **Cost competitiveness** (Percentage badge icon)\n* **Deglobalization** (Globe icon)\n* **Increasing market demand** (Upward trend chart icon)\n* **Long-term value** (Price tag icon)\n\n---\n\n## Opportunity to invest in an underserved market with an asymmetric risk/reward profile\nSum of new announced climate investment funds (2022) ¹\n*in billions of USD*\n\n**Bar Chart Description:**\nA column chart displaying the amount of newly announced climate investment funds across three asset classes in 2022. The \"VC / growth equity\" and \"Infrastructure\" bars are colored light gray, while the \"Private equity\" bar is colored dark green and is specifically highlighted with a thin red circle around it to emphasize its comparatively low value. \n\n**Chart Data:**\n| Asset Class | Value (in billions of USD) |\n| :--- | :--- |\n| **VC / growth equity** | $38 |\n| **Private equity** | $3 |\n| **Infrastructure** | $23 |\n\n---\n\n## Annual decarb investments have accelerated, doubling every ~4 years, and must continue to grow to stay on a net-zero pathway\nAnnual global investment in energy transition²\n*in trillions of USD*\n\n**Bar Chart Description:**\nA column chart tracking global investment in the energy transition over time, divided into historical \"Actual\" data and future \"Required\" projections. All bars are dark green. \n- A bracket underneath the years 2012 through 2023 labels them as \"**Actual**\".\n- A bracket underneath the periods 2024-30 through 2040s labels them as \"**Required for net-zero by 2050**\".\n- There are gray arrows with percentage increases connecting the projected periods to show step-up growth.\n - An arrow pointing from 2023 to 2024-30 is labeled **+174%**.\n - An arrow pointing from 2024-30 to 2030s is labeled **+36%**.\n - An arrow pointing from 2030s to 2040s is labeled **+15%**.\n\n**Chart Data:**\n| Year / Period | Value (in trillions of USD) | Category |\n| :--- | :--- | :--- |\n| **2012** | $0.2 | Actual |\n| **2016** | $0.4 | Actual |\n| **2020** | $0.9 | Actual |\n| **2023** | $1.8 | Actual |\n| **2024-30** | $4.8 | Required for net-zero by 2050 |\n| **2030s** | $6.6 | Required for net-zero by 2050 |\n| **2040s** | $7.6 | Required for net-zero by 2050 |\n\n---\n\n**Footnotes & Disclosures:**\n(1) Sightline Climate, Climate Tech VC (2022). (2) BloombergNEF, Energy Transition Investment Trends (2024). \nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. \n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** | 5",
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"gemini_markdown": "# Investing in (1) solution providers and (2) decarb enablers across our target sectors\n\n*Diagram Description:*\nThe slide displays a conceptual matrix mapping specific solutions to target sectors, built upon a foundation of enablers.\n* **Top Axis (Sectors):** A horizontal light-gray line with arrows at both ends spans the top, labeled \"**Sectors**\" in the center. It connects four columns, each headed by a circular gray icon and a title:\n * **Energy:** Power button icon\n * **Industrials:** Factory icon\n * **Built environment:** City buildings icon\n * **Transportation:** Car icon\n* **Left Axis ((1) Solutions):** A dark green header block reads \"**(1) Solutions**\". Below it are three rows, each labeled with text and a dark green circular icon. A dark green arrow points from each icon to the right, directing into the main grid:\n * **Electrification:** USB/Plug symbol icon\n * **Efficiency:** Triple right-pointing chevrons icon\n * **Low carbon inputs:** Hand holding a sprouting plant icon\n* **Main Grid:** The intersection of the solutions rows and sector columns creates a 3x4 grid of specific examples. This entire grid is enclosed within a black dashed rectangular border.\n* **Foundation:** Below the dashed rectangle is a wide, solid dark green banner. A dark green arrow points upwards from the center of this banner to the bottom edge of the dashed rectangle.\n\n*Data within the dashed rectangle:*\n\n| (1) Solutions | Energy | Industrials | Built environment | Transportation |\n| :--- | :--- | :--- | :--- | :--- |\n| **Electrification** | Smart grid | Electrified equipment | Commercial heat pumps | Fleet management |\n| **Efficiency** | Demand response | Process optimization | HVAC & lighting | Battery reuse |\n| **Low carbon inputs** | Renewables | Green chemicals | Green building materials | Lightweight materials |\n\n**(2) Enablers: services, technology, human capital**\n\n***\n\n**Legend:**\n[Dashed rectangle outline] Sample target company focus\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change. The description set forth above is intended as a general illustration and representative sample of the target sectors but does not include all sectors currently under consideration.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** 6",
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"markdown": "# Investing in (1) solution providers and (2) decarb enablers across our target sectors\n\n*Diagram Description:*\nThe slide displays a conceptual matrix mapping specific solutions to target sectors, built upon a foundation of enablers.\n* **Top Axis (Sectors):** A horizontal light-gray line with arrows at both ends spans the top, labeled \"**Sectors**\" in the center. It connects four columns, each headed by a circular gray icon and a title:\n * **Energy:** Power button icon\n * **Industrials:** Factory icon\n * **Built environment:** City buildings icon\n * **Transportation:** Car icon\n* **Left Axis ((1) Solutions):** A dark green header block reads \"**(1) Solutions**\". Below it are three rows, each labeled with text and a dark green circular icon. A dark green arrow points from each icon to the right, directing into the main grid:\n * **Electrification:** USB/Plug symbol icon\n * **Efficiency:** Triple right-pointing chevrons icon\n * **Low carbon inputs:** Hand holding a sprouting plant icon\n* **Main Grid:** The intersection of the solutions rows and sector columns creates a 3x4 grid of specific examples. This entire grid is enclosed within a black dashed rectangular border.\n* **Foundation:** Below the dashed rectangle is a wide, solid dark green banner. A dark green arrow points upwards from the center of this banner to the bottom edge of the dashed rectangle.\n\n*Data within the dashed rectangle:*\n\n| (1) Solutions | Energy | Industrials | Built environment | Transportation |\n| :--- | :--- | :--- | :--- | :--- |\n| **Electrification** | Smart grid | Electrified equipment | Commercial heat pumps | Fleet management |\n| **Efficiency** | Demand response | Process optimization | HVAC & lighting | Battery reuse |\n| **Low carbon inputs** | Renewables | Green chemicals | Green building materials | Lightweight materials |\n\n**(2) Enablers: services, technology, human capital**\n\n***\n\n**Legend:**\n[Dashed rectangle outline] Sample target company focus\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change. The description set forth above is intended as a general illustration and representative sample of the target sectors but does not include all sectors currently under consideration.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** 6",
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"gemini_markdown": "# Pipeline examples\n\n## Company A\n\n**Overview:** Transformer services platform providing one-stop shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions and recycling.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$70-80M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 85-90% |\n\n**Investment rationale**\n* Aging infrastructure and electrification driving **continued transformer and services demand**\n* Strong **revenue visibility** from 3-5+ year contracts from a sticky key customer base\n* **Attractive financial profile** with 55-60% gross margin in key segments\n\n## Company B\n\n**Overview:** 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.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$75M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 90% |\n\n**Investment rationale**\n* Highly **capital efficient business model** with a sticky customer base\n* **Excellent revenue visibility** driven by multi-year customer contracts\n* **Strong sustainability fit:** Uniquely positioned to guide clients on their decarbonization journeys including PPAs, behind the meter generation, and demand response\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\nPOWER SUSTAINABLE 7",
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"markdown": "# Pipeline examples\n\n## Company A\n\n**Overview:** Transformer services platform providing one-stop shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions and recycling.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$70-80M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 85-90% |\n\n**Investment rationale**\n* Aging infrastructure and electrification driving **continued transformer and services demand**\n* Strong **revenue visibility** from 3-5+ year contracts from a sticky key customer base\n* **Attractive financial profile** with 55-60% gross margin in key segments\n\n## Company B\n\n**Overview:** 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.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$75M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 90% |\n\n**Investment rationale**\n* Highly **capital efficient business model** with a sticky customer base\n* **Excellent revenue visibility** driven by multi-year customer contracts\n* **Strong sustainability fit:** Uniquely positioned to guide clients on their decarbonization journeys including PPAs, behind the meter generation, and demand response\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\nPOWER SUSTAINABLE 7",
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"gemini_markdown": "# Multi-pronged origination approach aided by our extensive network and Power Sustainable platform and affiliated partners\n\n## Unparalleled network\n* Personal networks\n* 40+ investment professionals with aligned incentives\n* Portfolio companies\n* PCC & affiliates\n* Advisory board network\n* Partners\n\n**Network Logos Included:**\nPotentia, lumenpulse, Nautilus Solar, McGill University, Finance Montréal, CREO, Power Corporation of Canada, canada life, Sagard, IGM Financial, GREAT-WEST LIFECO INC., GBL, EDC, canada life, BMO, Desjardins, fcc, FONDS de solidarité FTQ, Vancity, CIBC, NATIONAL BANK, Fondation (Donner du sens à l'argent.), RBC.\n* 20+ other LPs\n\n***\n\n### [Visual Diagram: Origination Cycle]\n*A cyclical diagram centrally located on the slide, illustrating the multi-pronged approach using three interconnected dark green gears and three light gray curved arrows forming a continuous loop.*\n* **Main Gear (Bottom-Left/Center):** The largest gear, representing the core platform. It contains the white text **\"POWER SUSTAINABLE\"**. \n* **Top-Right Gear:** A smaller gear featuring a white icon of a person connected to three smaller nodes, representing the \"Unparalleled network\" and networking connections.\n* **Bottom-Right Gear:** A smaller gear featuring a white icon of a handshake, representing partnerships, \"Banker & other advisors\".\n* **Arrows:** Three thick, light gray arrows flow in a clockwise direction between the gears, indicating an ongoing, integrated cycle between the network, the advisors, and the core Power Sustainable platform.\n\n***\n\n## Thesis-driven origination\n* Several themes per year\n* Landscape map\n* Direct company outreach\n* Proven track record\n\n## Banker & other advisors\n* Investment banks & financial advisors\n* Legal counsel\n* Industry consultants\n\n***\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE | 8",
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"markdown": "# Multi-pronged origination approach aided by our extensive network and Power Sustainable platform and affiliated partners\n\n## Unparalleled network\n* Personal networks\n* 40+ investment professionals with aligned incentives\n* Portfolio companies\n* PCC & affiliates\n* Advisory board network\n* Partners\n\n**Network Logos Included:**\nPotentia, lumenpulse, Nautilus Solar, McGill University, Finance Montréal, CREO, Power Corporation of Canada, canada life, Sagard, IGM Financial, GREAT-WEST LIFECO INC., GBL, EDC, canada life, BMO, Desjardins, fcc, FONDS de solidarité FTQ, Vancity, CIBC, NATIONAL BANK, Fondation (Donner du sens à l'argent.), RBC.\n* 20+ other LPs\n\n***\n\n### [Visual Diagram: Origination Cycle]\n*A cyclical diagram centrally located on the slide, illustrating the multi-pronged approach using three interconnected dark green gears and three light gray curved arrows forming a continuous loop.*\n* **Main Gear (Bottom-Left/Center):** The largest gear, representing the core platform. It contains the white text **\"POWER SUSTAINABLE\"**. \n* **Top-Right Gear:** A smaller gear featuring a white icon of a person connected to three smaller nodes, representing the \"Unparalleled network\" and networking connections.\n* **Bottom-Right Gear:** A smaller gear featuring a white icon of a handshake, representing partnerships, \"Banker & other advisors\".\n* **Arrows:** Three thick, light gray arrows flow in a clockwise direction between the gears, indicating an ongoing, integrated cycle between the network, the advisors, and the core Power Sustainable platform.\n\n***\n\n## Thesis-driven origination\n* Several themes per year\n* Landscape map\n* Direct company outreach\n* Proven track record\n\n## Banker & other advisors\n* Investment banks & financial advisors\n* Legal counsel\n* Industry consultants\n\n***\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE | 8",
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"gemini_markdown": "# Established blueprint for value creation\n\n* **Scale operations**\n * Provide capital and expertise to expand the business via bolt-ons and organic growth\n * Focus on expanding into new products/services or regions\n * Institutionalize operating practices\n\n* **Grow revenue and margins**\n * Customer and vendor introductions by leveraging the team’s network and the broader Power Sustainable ecosystem\n * Value-based pricing and go to market playbooks via operating advisors\n * Improving operations and processes with lean manufacturing, implementation of systems and technology, and supply chain optimization\n\n* **Strengthen leadership team**\n * Drive alignment by deepening equity incentive plans for management team\n * Identify highly-capable management with a clear vision and bring in new functional leadership with seasoned operational, sales, or financial experience when needed\n * Leverage functional and industry advisors to directly support portfolio company value creation programs\n\n* **Harness sustainability**\n * Establish sustainability measurement and management reporting, including ability to quantify GHG emissions saved\n * Use sustainability as a growth engine\n\n* **Position for exit**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 9",
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"markdown": "# Established blueprint for value creation\n\n* **Scale operations**\n * Provide capital and expertise to expand the business via bolt-ons and organic growth\n * Focus on expanding into new products/services or regions\n * Institutionalize operating practices\n\n* **Grow revenue and margins**\n * Customer and vendor introductions by leveraging the team’s network and the broader Power Sustainable ecosystem\n * Value-based pricing and go to market playbooks via operating advisors\n * Improving operations and processes with lean manufacturing, implementation of systems and technology, and supply chain optimization\n\n* **Strengthen leadership team**\n * Drive alignment by deepening equity incentive plans for management team\n * Identify highly-capable management with a clear vision and bring in new functional leadership with seasoned operational, sales, or financial experience when needed\n * Leverage functional and industry advisors to directly support portfolio company value creation programs\n\n* **Harness sustainability**\n * Establish sustainability measurement and management reporting, including ability to quantify GHG emissions saved\n * Use sustainability as a growth engine\n\n* **Position for exit**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 9",
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"gemini_markdown": "# Sample pipeline | US$250M of priority opportunities\n\n| Company | Sector | Source | Headquarters | Description |\n| :--- | :--- | :--- | :--- | :--- |\n| **Company A** | Built Environment | Proprietary | British Columbia | ▪ Manufacturer of energy-efficient fiberglass window systems |\n| **Company B** | Energy | Proprietary | Tennessee | ▪ Sustainability tech-enabled consulting firm with a focus on technical tasks like carbon accounting, life cycle assessment (LCA) and sustainability reporting |\n| **Company C** | Energy | Formerly Auction, Now Proprietary | California | ▪ Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial and municipal customers accelerating clean energy adoption |\n| **Company D** | Energy | Proprietary | New Jersey | ▪ Global energy consulting firm assisting commercial and industrial organizations manage their energy management and sustainability processes |\n| **Company E** | Energy | Proprietary | Texas | ▪ BESS, wind, and solar O&M and commissioning services, including maintenance and inspection, repairs, cleaning and data analysis |\n| **Company F** | Energy | Process | Massachusetts | ▪ Corporate carveout ESCO opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings |\n| **Company G** | Industrials | Proprietary | Quebec | ▪ Manufacturer of advanced energy storage systems displacing diesel-powered equipment |\n| **Company H** | Industrials | Proprietary | Louisiana | ▪ Manufactures steel poles and structures to the Electric Utility and Renewable Energy Industries |\n| **Company I** | Industrials | Proprietary | Quebec | ▪ 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 |\n| **Company J** | Energy | Process | Massachusetts | ▪ Offers home energy assessments, HVAC, insulation and other related energy-efficiency contracting primarily in Massachusetts |\n\n*(Note: In the original slide, a thick red outline encloses the rows for **Company A** through **Company D**.)*\n\n**[Red Square Outline]** = Priority deals\n\n---\n*The information contained in this presentation does not, in any way, constitute investment advice. Portfolio characteristics information may vary from time to time from the opportunities pipeline shown above.*\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER**\n**SUSTAINABLE** 10",
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"markdown": "# Sample pipeline | US$250M of priority opportunities\n\n| Company | Sector | Source | Headquarters | Description |\n| :--- | :--- | :--- | :--- | :--- |\n| **Company A** | Built Environment | Proprietary | British Columbia | ▪ Manufacturer of energy-efficient fiberglass window systems |\n| **Company B** | Energy | Proprietary | Tennessee | ▪ Sustainability tech-enabled consulting firm with a focus on technical tasks like carbon accounting, life cycle assessment (LCA) and sustainability reporting |\n| **Company C** | Energy | Formerly Auction, Now Proprietary | California | ▪ Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial and municipal customers accelerating clean energy adoption |\n| **Company D** | Energy | Proprietary | New Jersey | ▪ Global energy consulting firm assisting commercial and industrial organizations manage their energy management and sustainability processes |\n| **Company E** | Energy | Proprietary | Texas | ▪ BESS, wind, and solar O&M and commissioning services, including maintenance and inspection, repairs, cleaning and data analysis |\n| **Company F** | Energy | Process | Massachusetts | ▪ Corporate carveout ESCO opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings |\n| **Company G** | Industrials | Proprietary | Quebec | ▪ Manufacturer of advanced energy storage systems displacing diesel-powered equipment |\n| **Company H** | Industrials | Proprietary | Louisiana | ▪ Manufactures steel poles and structures to the Electric Utility and Renewable Energy Industries |\n| **Company I** | Industrials | Proprietary | Quebec | ▪ 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 |\n| **Company J** | Energy | Process | Massachusetts | ▪ Offers home energy assessments, HVAC, insulation and other related energy-efficiency contracting primarily in Massachusetts |\n\n*(Note: In the original slide, a thick red outline encloses the rows for **Company A** through **Company D**.)*\n\n**[Red Square Outline]** = Priority deals\n\n---\n*The information contained in this presentation does not, in any way, constitute investment advice. Portfolio characteristics information may vary from time to time from the opportunities pipeline shown above.*\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER**\n**SUSTAINABLE** 10",
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"gemini_markdown": "**An intentional and differentiated investment strategy**\n\n**01** \n**Targets an underserved part of the market**\n* <5% of climate capital focused on buyout\n* Few sector focused PE peers\n\n**02** \n**Highly experienced team**\n* Combined 80+ year of sector and investment experience\n* Deep understanding of market dynamics and industry trends\n\n**03** \n**Advantaged deals sourcing capabilities**\n* Thesis based origination\n* Established industry network; Leverage Power Sustainable ecosystem\n\n**04** \n**Established value creation playbook**\n* Traditional PE playbook with a deep sector lens\n* Integrates sustainability and impact measurement as a growth lever\n\n---\n\n### **Visual Elements Description**\nOn the right side of the slide is an infographic consisting of four stylized, horizontal ribbon shapes that align with the four numbered points. Each shape has a rounded left edge containing a white icon, and a pointed right edge that converges toward the far right edge of the slide. \n\n* **Top Ribbon (Dark Teal):** Aligns with point \"01\". Contains an icon of a **telescope on a tripod**, symbolizing targeting or vision.\n* **Second Ribbon (Light Blue/Gray):** Aligns with point \"02\". Contains an icon of a **bar chart** with three ascending bars and an upward trend line, symbolizing experience, performance, or growth.\n* **Third Ribbon (Medium Teal/Gray):** Aligns with point \"03\". Contains an icon of a **classical column or pillar**, symbolizing stability, establishment, or foundational strength.\n* **Bottom Ribbon (Olive Brown):** Aligns with point \"04\". Contains an icon of a **hand holding a sprouting plant**, symbolizing value creation, sustainability, and nurturing growth.\n\n---\n\n**Footer Text:**\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**POWER SUSTAINABLE** | 11\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**",
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"markdown": "**An intentional and differentiated investment strategy**\n\n**01** \n**Targets an underserved part of the market**\n* <5% of climate capital focused on buyout\n* Few sector focused PE peers\n\n**02** \n**Highly experienced team**\n* Combined 80+ year of sector and investment experience\n* Deep understanding of market dynamics and industry trends\n\n**03** \n**Advantaged deals sourcing capabilities**\n* Thesis based origination\n* Established industry network; Leverage Power Sustainable ecosystem\n\n**04** \n**Established value creation playbook**\n* Traditional PE playbook with a deep sector lens\n* Integrates sustainability and impact measurement as a growth lever\n\n---\n\n### **Visual Elements Description**\nOn the right side of the slide is an infographic consisting of four stylized, horizontal ribbon shapes that align with the four numbered points. Each shape has a rounded left edge containing a white icon, and a pointed right edge that converges toward the far right edge of the slide. \n\n* **Top Ribbon (Dark Teal):** Aligns with point \"01\". Contains an icon of a **telescope on a tripod**, symbolizing targeting or vision.\n* **Second Ribbon (Light Blue/Gray):** Aligns with point \"02\". Contains an icon of a **bar chart** with three ascending bars and an upward trend line, symbolizing experience, performance, or growth.\n* **Third Ribbon (Medium Teal/Gray):** Aligns with point \"03\". Contains an icon of a **classical column or pillar**, symbolizing stability, establishment, or foundational strength.\n* **Bottom Ribbon (Olive Brown):** Aligns with point \"04\". Contains an icon of a **hand holding a sprouting plant**, symbolizing value creation, sustainability, and nurturing growth.\n\n---\n\n**Footer Text:**\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**POWER SUSTAINABLE** | 11\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**",
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"markdown": "# US$750M\n\n*target raise for decarbonization-focused private equity strategy*\n\n* **Established, lower middle-market companies that benefit from secular decarbonization trends**\n* **US$330M committed capital already secured**\n* **Seeking both private equity returns and climate impact**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The strategy is newly-organized and has limited or no performance history.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 12",
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"gemini_markdown": "**Power Sustainable Decarbonization strategy terms**\n\n| | |\n| :--- | :--- |\n| **Focus** | Lower middle-market companies contributing to the decarbonization of the economy in the U.S. and Canada<br>Primarily focused on the energy, industrials, built environment and transportation sectors |\n| **Category** | Private equity |\n| **Currency** | USD |\n| **Target size** | $750 million |\n| **Target returns** | 25% gross / 20% net IRR<br>3.0x gross / 2.5x net MOIC |\n| **Fund term** | 10 years from the initial closing date, subject to extension |\n| **Management fees** | 2.00% on committed capital during the commitment period and on invested capital thereafter |\n| **Carried interest** | 20% of total returns over a hurdle of 8% (calculated on a whole of fund basis), 100% catch-up (European-style waterfall) |\n\n<br>\n\nThe information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering documents. The strategy is newly-organized and has limited or no performance history. The terms and conditions set forth herein are subject to change. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The information contained in this presentation does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 14",
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"markdown": "**Power Sustainable Decarbonization strategy terms**\n\n| | |\n| :--- | :--- |\n| **Focus** | Lower middle-market companies contributing to the decarbonization of the economy in the U.S. and Canada<br>Primarily focused on the energy, industrials, built environment and transportation sectors |\n| **Category** | Private equity |\n| **Currency** | USD |\n| **Target size** | $750 million |\n| **Target returns** | 25% gross / 20% net IRR<br>3.0x gross / 2.5x net MOIC |\n| **Fund term** | 10 years from the initial closing date, subject to extension |\n| **Management fees** | 2.00% on committed capital during the commitment period and on invested capital thereafter |\n| **Carried interest** | 20% of total returns over a hurdle of 8% (calculated on a whole of fund basis), 100% catch-up (European-style waterfall) |\n\n<br>\n\nThe information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering documents. The strategy is newly-organized and has limited or no performance history. The terms and conditions set forth herein are subject to change. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The information contained in this presentation does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 14",
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"gemini_markdown": "# Executive summary\n**Power Sustainable Decarbonization (PSD) focuses on scaling lower middle-market companies that decarbonize the economy**\n\n### Intended portfolio characteristics\n\n| | |\n| :--- | :--- |\n| **Sectors** | Energy, industrials, built environment, and transportation |\n| **Regions** | U.S. and Canada |\n| **Category** | Private equity |\n| **Ownership** | Control and significant minority |\n| **Company profile** | Profitable companies with EBITDA up to US$30M, sweet spot of $5M – $15M |\n| **Investment size** | US$30M - $100M per opportunity (approx. 10-12 investments) |\n| **Size** | Targeting US$750M total commitments |\n| **Target Returns** | 25% gross / 20% net IRR |\n\n### Investment leadership\n\n**Karine Khatcherian**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, ABB)*\n\n**Martin Aares**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, AMERICAN EXPRESS)*\n\n* Third time team\n* Extensive network\n* 20+ years each of climate investing experience\n* Gender-balanced\n\n### Current fundraising status\n\n**Total fundraise target of US$750M**\n\n* **Chart Type:** Segmented horizontal bar chart\n* **Total Value:** US$750M\n* **Data Series:**\n * **Left Segment:** $330M (Dark green fill). A curly bracket below indicates this represents \"Committed capital\".\n * **Right Segment:** $420M (Light grey fill). A curly bracket below indicates this represents \"New partners\".\n\n***\n\n<br>\nThe information contained in this presentation does not, in any way, constitute investment advice. The information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering document and other materials and agreements any fund referenced herein. No legally binding terms shall be created until definitive documentation is executed and delivered. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The strategy is newly-organized and no performance history. The terms and conditions set forth herein are subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 2",
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"markdown": "# Executive summary\n**Power Sustainable Decarbonization (PSD) focuses on scaling lower middle-market companies that decarbonize the economy**\n\n### Intended portfolio characteristics\n\n| | |\n| :--- | :--- |\n| **Sectors** | Energy, industrials, built environment, and transportation |\n| **Regions** | U.S. and Canada |\n| **Category** | Private equity |\n| **Ownership** | Control and significant minority |\n| **Company profile** | Profitable companies with EBITDA up to US$30M, sweet spot of $5M – $15M |\n| **Investment size** | US$30M - $100M per opportunity (approx. 10-12 investments) |\n| **Size** | Targeting US$750M total commitments |\n| **Target Returns** | 25% gross / 20% net IRR |\n\n### Investment leadership\n\n**Karine Khatcherian**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, ABB)*\n\n**Martin Aares**\nManaging Partner (20+)\n*(Logos: POWER SUSTAINABLE, CLOSED LOOP partners, GE, AMERICAN EXPRESS)*\n\n* Third time team\n* Extensive network\n* 20+ years each of climate investing experience\n* Gender-balanced\n\n### Current fundraising status\n\n**Total fundraise target of US$750M**\n\n* **Chart Type:** Segmented horizontal bar chart\n* **Total Value:** US$750M\n* **Data Series:**\n * **Left Segment:** $330M (Dark green fill). A curly bracket below indicates this represents \"Committed capital\".\n * **Right Segment:** $420M (Light grey fill). A curly bracket below indicates this represents \"New partners\".\n\n***\n\n<br>\nThe information contained in this presentation does not, in any way, constitute investment advice. The information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering document and other materials and agreements any fund referenced herein. No legally binding terms shall be created until definitive documentation is executed and delivered. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The strategy is newly-organized and no performance history. The terms and conditions set forth herein are subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 2",
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"gemini_markdown": "**Karine and Martin’s past experiences provides unique insights for PSD**\n**PSD’s managing partners each have 20+ years of decarbonization investing experience across sectors, deal sizes, and asset classes**\n\n### Experience across key decarbonization sectors³\n**Deal count by sector**\n\n**Karine**\n**Martin**\n\n***\n\n**[Chart Description: Deal count by sector]**\nTwo side-by-side doughnut charts visualize the deal count by sector for Karine and Martin. The total deal counts, as indicated by footnote 3, are 28 for Karine and 22 for Martin. Exact values are not labeled on the charts, but the estimated proportions based on visual slice sizes are as follows:\n\n* **Legend:**\n * **Energy** (Light Periwinkle/Blue)\n * **Industrials** (Dark Green)\n * **Built environment** (Slate Grey/Teal)\n * **Transportation** (Light Grey)\n\n* **Karine's Chart (left):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 15% of the chart.\n * **Transportation:** Smallest segment, comprising approximately 5% of the chart.\n\n* **Martin's Chart (right):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 20% of the chart.\n * *(Note: There is no visible segment for Transportation in this chart).*\n\n***\n\n**Key Metrics**\n\n| **50** | **US$17B+** | **US$165M** |\n| :--- | :--- | :--- |\n| **Deals¹** | **Total transaction volume¹** | **Average check size²** |\n\n<br>\n\n### Key Highlights (Right Column)\n* **✓ 3rd time team** having most recently co-led a lower middle-market buyout fund at Closed Loop Partners\n* **✓ 20+ years in target sectors** Extensive experience working in the target sectors (transactional, strategic, advisory, operational)\n* **✓ Deep understanding of** market dynamics and industry trends\n* **✓ Extensive network in key sectors** across all stakeholders including companies, customers, suppliers, governmental institutions, executives and intermediaries \n\n***\n\n**Footer**\n(1) Includes deals closed, advised, and extensively diligence, (2) closed deals only, (3) denotes number of deals – Karine 28 / Martin 22.\nData reflects the relevant experience in investments by the senior leadership team, prior to joining Power Sustainable. All track records of individuals mentioned throughout have been provided by the named individuals that the track relates to and do not relate to investments made by Power Sustainable. The specific performance figures mentioned within each record have not been subject to independent verification. The information contained here does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 3",
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"markdown": "**Karine and Martin’s past experiences provides unique insights for PSD**\n**PSD’s managing partners each have 20+ years of decarbonization investing experience across sectors, deal sizes, and asset classes**\n\n### Experience across key decarbonization sectors³\n**Deal count by sector**\n\n**Karine**\n**Martin**\n\n***\n\n**[Chart Description: Deal count by sector]**\nTwo side-by-side doughnut charts visualize the deal count by sector for Karine and Martin. The total deal counts, as indicated by footnote 3, are 28 for Karine and 22 for Martin. Exact values are not labeled on the charts, but the estimated proportions based on visual slice sizes are as follows:\n\n* **Legend:**\n * **Energy** (Light Periwinkle/Blue)\n * **Industrials** (Dark Green)\n * **Built environment** (Slate Grey/Teal)\n * **Transportation** (Light Grey)\n\n* **Karine's Chart (left):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 15% of the chart.\n * **Transportation:** Smallest segment, comprising approximately 5% of the chart.\n\n* **Martin's Chart (right):**\n * **Energy:** Largest segment, comprising approximately 45% of the chart.\n * **Industrials:** Second largest segment, comprising approximately 35% of the chart.\n * **Built environment:** Comprising approximately 20% of the chart.\n * *(Note: There is no visible segment for Transportation in this chart).*\n\n***\n\n**Key Metrics**\n\n| **50** | **US$17B+** | **US$165M** |\n| :--- | :--- | :--- |\n| **Deals¹** | **Total transaction volume¹** | **Average check size²** |\n\n<br>\n\n### Key Highlights (Right Column)\n* **✓ 3rd time team** having most recently co-led a lower middle-market buyout fund at Closed Loop Partners\n* **✓ 20+ years in target sectors** Extensive experience working in the target sectors (transactional, strategic, advisory, operational)\n* **✓ Deep understanding of** market dynamics and industry trends\n* **✓ Extensive network in key sectors** across all stakeholders including companies, customers, suppliers, governmental institutions, executives and intermediaries \n\n***\n\n**Footer**\n(1) Includes deals closed, advised, and extensively diligence, (2) closed deals only, (3) denotes number of deals – Karine 28 / Martin 22.\nData reflects the relevant experience in investments by the senior leadership team, prior to joining Power Sustainable. All track records of individuals mentioned throughout have been provided by the named individuals that the track relates to and do not relate to investments made by Power Sustainable. The specific performance figures mentioned within each record have not been subject to independent verification. The information contained here does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 3",
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"gemini_markdown": "# Experienced New York and Canada-based team supported by institutional governance and operational capabilities\n\n## PSD investment team\n\n* **Karine Khatcherian** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, ABB]\n EN, FR\n\n* **Martin Aares** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, Goldman Sachs]\n EN, NO\n\n* **Natalie Deschamps**\n Principal (15+)\n Canada-based\n [Logos: CPP Investments, McKinsey & Company]\n EN, FR\n\n* **Randy Harrigan**\n Principal (15+)\n NYC-based\n [Logos: ALVAREZ & MARSAL, ROARK CAPITAL GROUP]\n EN\n\n* **Francisco Baviera**\n Associate (2)\n NYC-based\n [Logo: citi]\n EN, FR, SP, CA\n\n* **Katherine Kent**\n Associate (5)\n Canada-based\n [Logo: RBC Capital Markets]\n EN, FR\n\n---\n\n## PSD operating advisors\n\n* **Pete Smith**\n Operating advisor (25+)\n [Logos: Aviat, Honeywell]\n\n* [Profile silhouette]\n **to come**\n\n* [Profile silhouette]\n\n### Legend\nLanguages spoken:\nEN = English, FR = French, CA = Catalan,\nNO = Norwegian, SP = Spanish\n● = PSD investment committee member\n\n---\n\n## PS corporate functions (Montreal)\n\n### PS leadership\n\n| | |\n| :--- | :--- |\n| **Olivier Desmarais**<br>Chairman | **Eoin Ó hÓgáin** ●<br>Partner & CIO |\n| **Bruce Heyman**<br>CEO | **Connor Lyons**<br>Partner & Head of Sustainability |\n| **Delia Cristea**<br>Partner, COO & General Counsel | **May Jan Hum**<br>Chief Compliance Officer |\n| **Dominic Grimard**<br>Partner & CFO | **Lauren Shanahan**<br>Head of Talent & Culture |\n\n### Centralized operations\n\n**40+ professionals**\n* Investor solutions | Sustainability | Human resources\n* Finance & operations | Legal & compliance | IT / systems\n* Board of directors and strategic advisors\n\n### PS investment platforms\n\n**30+ investment professionals**\n* Energy infrastructure equity\n* Infrastructure credit\n* Agrifood growth equity\n\n---\n\nNote: Figures in parentheses represent years of applicable experience, named firms represent prior employers.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** \n4",
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"markdown": "# Experienced New York and Canada-based team supported by institutional governance and operational capabilities\n\n## PSD investment team\n\n* **Karine Khatcherian** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, ABB]\n EN, FR\n\n* **Martin Aares** ●\n Managing Partner (20+)\n NYC-based\n [Logos: CLOSED LOOP partners, GE, Goldman Sachs]\n EN, NO\n\n* **Natalie Deschamps**\n Principal (15+)\n Canada-based\n [Logos: CPP Investments, McKinsey & Company]\n EN, FR\n\n* **Randy Harrigan**\n Principal (15+)\n NYC-based\n [Logos: ALVAREZ & MARSAL, ROARK CAPITAL GROUP]\n EN\n\n* **Francisco Baviera**\n Associate (2)\n NYC-based\n [Logo: citi]\n EN, FR, SP, CA\n\n* **Katherine Kent**\n Associate (5)\n Canada-based\n [Logo: RBC Capital Markets]\n EN, FR\n\n---\n\n## PSD operating advisors\n\n* **Pete Smith**\n Operating advisor (25+)\n [Logos: Aviat, Honeywell]\n\n* [Profile silhouette]\n **to come**\n\n* [Profile silhouette]\n\n### Legend\nLanguages spoken:\nEN = English, FR = French, CA = Catalan,\nNO = Norwegian, SP = Spanish\n● = PSD investment committee member\n\n---\n\n## PS corporate functions (Montreal)\n\n### PS leadership\n\n| | |\n| :--- | :--- |\n| **Olivier Desmarais**<br>Chairman | **Eoin Ó hÓgáin** ●<br>Partner & CIO |\n| **Bruce Heyman**<br>CEO | **Connor Lyons**<br>Partner & Head of Sustainability |\n| **Delia Cristea**<br>Partner, COO & General Counsel | **May Jan Hum**<br>Chief Compliance Officer |\n| **Dominic Grimard**<br>Partner & CFO | **Lauren Shanahan**<br>Head of Talent & Culture |\n\n### Centralized operations\n\n**40+ professionals**\n* Investor solutions | Sustainability | Human resources\n* Finance & operations | Legal & compliance | IT / systems\n* Board of directors and strategic advisors\n\n### PS investment platforms\n\n**30+ investment professionals**\n* Energy infrastructure equity\n* Infrastructure credit\n* Agrifood growth equity\n\n---\n\nNote: Figures in parentheses represent years of applicable experience, named firms represent prior employers.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** \n4",
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"gemini_markdown": "# Decarbonization and climate resilience is a generational investment opportunity\n\n**Key Investment Drivers:**\n* **Climate imperative** (Thermometer icon)\n* **Technology advancements** (Robot/Machine icon)\n* **Cost competitiveness** (Percentage badge icon)\n* **Deglobalization** (Globe icon)\n* **Increasing market demand** (Upward trend chart icon)\n* **Long-term value** (Price tag icon)\n\n---\n\n## Opportunity to invest in an underserved market with an asymmetric risk/reward profile\nSum of new announced climate investment funds (2022) ¹\n*in billions of USD*\n\n**Bar Chart Description:**\nA column chart displaying the amount of newly announced climate investment funds across three asset classes in 2022. The \"VC / growth equity\" and \"Infrastructure\" bars are colored light gray, while the \"Private equity\" bar is colored dark green and is specifically highlighted with a thin red circle around it to emphasize its comparatively low value. \n\n**Chart Data:**\n| Asset Class | Value (in billions of USD) |\n| :--- | :--- |\n| **VC / growth equity** | $38 |\n| **Private equity** | $3 |\n| **Infrastructure** | $23 |\n\n---\n\n## Annual decarb investments have accelerated, doubling every ~4 years, and must continue to grow to stay on a net-zero pathway\nAnnual global investment in energy transition²\n*in trillions of USD*\n\n**Bar Chart Description:**\nA column chart tracking global investment in the energy transition over time, divided into historical \"Actual\" data and future \"Required\" projections. All bars are dark green. \n- A bracket underneath the years 2012 through 2023 labels them as \"**Actual**\".\n- A bracket underneath the periods 2024-30 through 2040s labels them as \"**Required for net-zero by 2050**\".\n- There are gray arrows with percentage increases connecting the projected periods to show step-up growth.\n - An arrow pointing from 2023 to 2024-30 is labeled **+174%**.\n - An arrow pointing from 2024-30 to 2030s is labeled **+36%**.\n - An arrow pointing from 2030s to 2040s is labeled **+15%**.\n\n**Chart Data:**\n| Year / Period | Value (in trillions of USD) | Category |\n| :--- | :--- | :--- |\n| **2012** | $0.2 | Actual |\n| **2016** | $0.4 | Actual |\n| **2020** | $0.9 | Actual |\n| **2023** | $1.8 | Actual |\n| **2024-30** | $4.8 | Required for net-zero by 2050 |\n| **2030s** | $6.6 | Required for net-zero by 2050 |\n| **2040s** | $7.6 | Required for net-zero by 2050 |\n\n---\n\n**Footnotes & Disclosures:**\n(1) Sightline Climate, Climate Tech VC (2022). (2) BloombergNEF, Energy Transition Investment Trends (2024). \nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. \n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** | 5",
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"markdown": "# Decarbonization and climate resilience is a generational investment opportunity\n\n**Key Investment Drivers:**\n* **Climate imperative** (Thermometer icon)\n* **Technology advancements** (Robot/Machine icon)\n* **Cost competitiveness** (Percentage badge icon)\n* **Deglobalization** (Globe icon)\n* **Increasing market demand** (Upward trend chart icon)\n* **Long-term value** (Price tag icon)\n\n---\n\n## Opportunity to invest in an underserved market with an asymmetric risk/reward profile\nSum of new announced climate investment funds (2022) ¹\n*in billions of USD*\n\n**Bar Chart Description:**\nA column chart displaying the amount of newly announced climate investment funds across three asset classes in 2022. The \"VC / growth equity\" and \"Infrastructure\" bars are colored light gray, while the \"Private equity\" bar is colored dark green and is specifically highlighted with a thin red circle around it to emphasize its comparatively low value. \n\n**Chart Data:**\n| Asset Class | Value (in billions of USD) |\n| :--- | :--- |\n| **VC / growth equity** | $38 |\n| **Private equity** | $3 |\n| **Infrastructure** | $23 |\n\n---\n\n## Annual decarb investments have accelerated, doubling every ~4 years, and must continue to grow to stay on a net-zero pathway\nAnnual global investment in energy transition²\n*in trillions of USD*\n\n**Bar Chart Description:**\nA column chart tracking global investment in the energy transition over time, divided into historical \"Actual\" data and future \"Required\" projections. All bars are dark green. \n- A bracket underneath the years 2012 through 2023 labels them as \"**Actual**\".\n- A bracket underneath the periods 2024-30 through 2040s labels them as \"**Required for net-zero by 2050**\".\n- There are gray arrows with percentage increases connecting the projected periods to show step-up growth.\n - An arrow pointing from 2023 to 2024-30 is labeled **+174%**.\n - An arrow pointing from 2024-30 to 2030s is labeled **+36%**.\n - An arrow pointing from 2030s to 2040s is labeled **+15%**.\n\n**Chart Data:**\n| Year / Period | Value (in trillions of USD) | Category |\n| :--- | :--- | :--- |\n| **2012** | $0.2 | Actual |\n| **2016** | $0.4 | Actual |\n| **2020** | $0.9 | Actual |\n| **2023** | $1.8 | Actual |\n| **2024-30** | $4.8 | Required for net-zero by 2050 |\n| **2030s** | $6.6 | Required for net-zero by 2050 |\n| **2040s** | $7.6 | Required for net-zero by 2050 |\n\n---\n\n**Footnotes & Disclosures:**\n(1) Sightline Climate, Climate Tech VC (2022). (2) BloombergNEF, Energy Transition Investment Trends (2024). \nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. \n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** | 5",
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"gemini_markdown": "# Investing in (1) solution providers and (2) decarb enablers across our target sectors\n\n*Diagram Description:*\nThe slide displays a conceptual matrix mapping specific solutions to target sectors, built upon a foundation of enablers.\n* **Top Axis (Sectors):** A horizontal light-gray line with arrows at both ends spans the top, labeled \"**Sectors**\" in the center. It connects four columns, each headed by a circular gray icon and a title:\n * **Energy:** Power button icon\n * **Industrials:** Factory icon\n * **Built environment:** City buildings icon\n * **Transportation:** Car icon\n* **Left Axis ((1) Solutions):** A dark green header block reads \"**(1) Solutions**\". Below it are three rows, each labeled with text and a dark green circular icon. A dark green arrow points from each icon to the right, directing into the main grid:\n * **Electrification:** USB/Plug symbol icon\n * **Efficiency:** Triple right-pointing chevrons icon\n * **Low carbon inputs:** Hand holding a sprouting plant icon\n* **Main Grid:** The intersection of the solutions rows and sector columns creates a 3x4 grid of specific examples. This entire grid is enclosed within a black dashed rectangular border.\n* **Foundation:** Below the dashed rectangle is a wide, solid dark green banner. A dark green arrow points upwards from the center of this banner to the bottom edge of the dashed rectangle.\n\n*Data within the dashed rectangle:*\n\n| (1) Solutions | Energy | Industrials | Built environment | Transportation |\n| :--- | :--- | :--- | :--- | :--- |\n| **Electrification** | Smart grid | Electrified equipment | Commercial heat pumps | Fleet management |\n| **Efficiency** | Demand response | Process optimization | HVAC & lighting | Battery reuse |\n| **Low carbon inputs** | Renewables | Green chemicals | Green building materials | Lightweight materials |\n\n**(2) Enablers: services, technology, human capital**\n\n***\n\n**Legend:**\n[Dashed rectangle outline] Sample target company focus\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change. The description set forth above is intended as a general illustration and representative sample of the target sectors but does not include all sectors currently under consideration.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** 6",
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"markdown": "# Investing in (1) solution providers and (2) decarb enablers across our target sectors\n\n*Diagram Description:*\nThe slide displays a conceptual matrix mapping specific solutions to target sectors, built upon a foundation of enablers.\n* **Top Axis (Sectors):** A horizontal light-gray line with arrows at both ends spans the top, labeled \"**Sectors**\" in the center. It connects four columns, each headed by a circular gray icon and a title:\n * **Energy:** Power button icon\n * **Industrials:** Factory icon\n * **Built environment:** City buildings icon\n * **Transportation:** Car icon\n* **Left Axis ((1) Solutions):** A dark green header block reads \"**(1) Solutions**\". Below it are three rows, each labeled with text and a dark green circular icon. A dark green arrow points from each icon to the right, directing into the main grid:\n * **Electrification:** USB/Plug symbol icon\n * **Efficiency:** Triple right-pointing chevrons icon\n * **Low carbon inputs:** Hand holding a sprouting plant icon\n* **Main Grid:** The intersection of the solutions rows and sector columns creates a 3x4 grid of specific examples. This entire grid is enclosed within a black dashed rectangular border.\n* **Foundation:** Below the dashed rectangle is a wide, solid dark green banner. A dark green arrow points upwards from the center of this banner to the bottom edge of the dashed rectangle.\n\n*Data within the dashed rectangle:*\n\n| (1) Solutions | Energy | Industrials | Built environment | Transportation |\n| :--- | :--- | :--- | :--- | :--- |\n| **Electrification** | Smart grid | Electrified equipment | Commercial heat pumps | Fleet management |\n| **Efficiency** | Demand response | Process optimization | HVAC & lighting | Battery reuse |\n| **Low carbon inputs** | Renewables | Green chemicals | Green building materials | Lightweight materials |\n\n**(2) Enablers: services, technology, human capital**\n\n***\n\n**Legend:**\n[Dashed rectangle outline] Sample target company focus\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change. The description set forth above is intended as a general illustration and representative sample of the target sectors but does not include all sectors currently under consideration.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n**POWER SUSTAINABLE** 6",
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"gemini_markdown": "# Pipeline examples\n\n## Company A\n\n**Overview:** Transformer services platform providing one-stop shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions and recycling.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$70-80M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 85-90% |\n\n**Investment rationale**\n* Aging infrastructure and electrification driving **continued transformer and services demand**\n* Strong **revenue visibility** from 3-5+ year contracts from a sticky key customer base\n* **Attractive financial profile** with 55-60% gross margin in key segments\n\n## Company B\n\n**Overview:** 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.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$75M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 90% |\n\n**Investment rationale**\n* Highly **capital efficient business model** with a sticky customer base\n* **Excellent revenue visibility** driven by multi-year customer contracts\n* **Strong sustainability fit:** Uniquely positioned to guide clients on their decarbonization journeys including PPAs, behind the meter generation, and demand response\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\nPOWER SUSTAINABLE 7",
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"markdown": "# Pipeline examples\n\n## Company A\n\n**Overview:** Transformer services platform providing one-stop shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions and recycling.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$70-80M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 85-90% |\n\n**Investment rationale**\n* Aging infrastructure and electrification driving **continued transformer and services demand**\n* Strong **revenue visibility** from 3-5+ year contracts from a sticky key customer base\n* **Attractive financial profile** with 55-60% gross margin in key segments\n\n## Company B\n\n**Overview:** 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.\n\n| | |\n| :--- | :--- |\n| **Initial equity investment:** | US$75M |\n| **Co-invest opportunity:** | Yes |\n| **Ownership type / percentage:** | **Control** / 90% |\n\n**Investment rationale**\n* Highly **capital efficient business model** with a sticky customer base\n* **Excellent revenue visibility** driven by multi-year customer contracts\n* **Strong sustainability fit:** Uniquely positioned to guide clients on their decarbonization journeys including PPAs, behind the meter generation, and demand response\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration and representative sample of the opportunity pipeline but does not include all assets currently under consideration. Portfolio characteristics information may vary from time to time from the opportunity pipeline shown above. Information above is subject to change.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\nPOWER SUSTAINABLE 7",
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"gemini_markdown": "# Multi-pronged origination approach aided by our extensive network and Power Sustainable platform and affiliated partners\n\n## Unparalleled network\n* Personal networks\n* 40+ investment professionals with aligned incentives\n* Portfolio companies\n* PCC & affiliates\n* Advisory board network\n* Partners\n\n**Network Logos Included:**\nPotentia, lumenpulse, Nautilus Solar, McGill University, Finance Montréal, CREO, Power Corporation of Canada, canada life, Sagard, IGM Financial, GREAT-WEST LIFECO INC., GBL, EDC, canada life, BMO, Desjardins, fcc, FONDS de solidarité FTQ, Vancity, CIBC, NATIONAL BANK, Fondation (Donner du sens à l'argent.), RBC.\n* 20+ other LPs\n\n***\n\n### [Visual Diagram: Origination Cycle]\n*A cyclical diagram centrally located on the slide, illustrating the multi-pronged approach using three interconnected dark green gears and three light gray curved arrows forming a continuous loop.*\n* **Main Gear (Bottom-Left/Center):** The largest gear, representing the core platform. It contains the white text **\"POWER SUSTAINABLE\"**. \n* **Top-Right Gear:** A smaller gear featuring a white icon of a person connected to three smaller nodes, representing the \"Unparalleled network\" and networking connections.\n* **Bottom-Right Gear:** A smaller gear featuring a white icon of a handshake, representing partnerships, \"Banker & other advisors\".\n* **Arrows:** Three thick, light gray arrows flow in a clockwise direction between the gears, indicating an ongoing, integrated cycle between the network, the advisors, and the core Power Sustainable platform.\n\n***\n\n## Thesis-driven origination\n* Several themes per year\n* Landscape map\n* Direct company outreach\n* Proven track record\n\n## Banker & other advisors\n* Investment banks & financial advisors\n* Legal counsel\n* Industry consultants\n\n***\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE | 8",
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"markdown": "# Multi-pronged origination approach aided by our extensive network and Power Sustainable platform and affiliated partners\n\n## Unparalleled network\n* Personal networks\n* 40+ investment professionals with aligned incentives\n* Portfolio companies\n* PCC & affiliates\n* Advisory board network\n* Partners\n\n**Network Logos Included:**\nPotentia, lumenpulse, Nautilus Solar, McGill University, Finance Montréal, CREO, Power Corporation of Canada, canada life, Sagard, IGM Financial, GREAT-WEST LIFECO INC., GBL, EDC, canada life, BMO, Desjardins, fcc, FONDS de solidarité FTQ, Vancity, CIBC, NATIONAL BANK, Fondation (Donner du sens à l'argent.), RBC.\n* 20+ other LPs\n\n***\n\n### [Visual Diagram: Origination Cycle]\n*A cyclical diagram centrally located on the slide, illustrating the multi-pronged approach using three interconnected dark green gears and three light gray curved arrows forming a continuous loop.*\n* **Main Gear (Bottom-Left/Center):** The largest gear, representing the core platform. It contains the white text **\"POWER SUSTAINABLE\"**. \n* **Top-Right Gear:** A smaller gear featuring a white icon of a person connected to three smaller nodes, representing the \"Unparalleled network\" and networking connections.\n* **Bottom-Right Gear:** A smaller gear featuring a white icon of a handshake, representing partnerships, \"Banker & other advisors\".\n* **Arrows:** Three thick, light gray arrows flow in a clockwise direction between the gears, indicating an ongoing, integrated cycle between the network, the advisors, and the core Power Sustainable platform.\n\n***\n\n## Thesis-driven origination\n* Several themes per year\n* Landscape map\n* Direct company outreach\n* Proven track record\n\n## Banker & other advisors\n* Investment banks & financial advisors\n* Legal counsel\n* Industry consultants\n\n***\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. Information shown above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE | 8",
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"gemini_markdown": "# Established blueprint for value creation\n\n* **Scale operations**\n * Provide capital and expertise to expand the business via bolt-ons and organic growth\n * Focus on expanding into new products/services or regions\n * Institutionalize operating practices\n\n* **Grow revenue and margins**\n * Customer and vendor introductions by leveraging the team’s network and the broader Power Sustainable ecosystem\n * Value-based pricing and go to market playbooks via operating advisors\n * Improving operations and processes with lean manufacturing, implementation of systems and technology, and supply chain optimization\n\n* **Strengthen leadership team**\n * Drive alignment by deepening equity incentive plans for management team\n * Identify highly-capable management with a clear vision and bring in new functional leadership with seasoned operational, sales, or financial experience when needed\n * Leverage functional and industry advisors to directly support portfolio company value creation programs\n\n* **Harness sustainability**\n * Establish sustainability measurement and management reporting, including ability to quantify GHG emissions saved\n * Use sustainability as a growth engine\n\n* **Position for exit**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 9",
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"markdown": "# Established blueprint for value creation\n\n* **Scale operations**\n * Provide capital and expertise to expand the business via bolt-ons and organic growth\n * Focus on expanding into new products/services or regions\n * Institutionalize operating practices\n\n* **Grow revenue and margins**\n * Customer and vendor introductions by leveraging the team’s network and the broader Power Sustainable ecosystem\n * Value-based pricing and go to market playbooks via operating advisors\n * Improving operations and processes with lean manufacturing, implementation of systems and technology, and supply chain optimization\n\n* **Strengthen leadership team**\n * Drive alignment by deepening equity incentive plans for management team\n * Identify highly-capable management with a clear vision and bring in new functional leadership with seasoned operational, sales, or financial experience when needed\n * Leverage functional and industry advisors to directly support portfolio company value creation programs\n\n* **Harness sustainability**\n * Establish sustainability measurement and management reporting, including ability to quantify GHG emissions saved\n * Use sustainability as a growth engine\n\n* **Position for exit**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 9",
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"gemini_markdown": "# Sample pipeline | US$250M of priority opportunities\n\n| Company | Sector | Source | Headquarters | Description |\n| :--- | :--- | :--- | :--- | :--- |\n| **Company A** | Built Environment | Proprietary | British Columbia | ▪ Manufacturer of energy-efficient fiberglass window systems |\n| **Company B** | Energy | Proprietary | Tennessee | ▪ Sustainability tech-enabled consulting firm with a focus on technical tasks like carbon accounting, life cycle assessment (LCA) and sustainability reporting |\n| **Company C** | Energy | Formerly Auction, Now Proprietary | California | ▪ Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial and municipal customers accelerating clean energy adoption |\n| **Company D** | Energy | Proprietary | New Jersey | ▪ Global energy consulting firm assisting commercial and industrial organizations manage their energy management and sustainability processes |\n| **Company E** | Energy | Proprietary | Texas | ▪ BESS, wind, and solar O&M and commissioning services, including maintenance and inspection, repairs, cleaning and data analysis |\n| **Company F** | Energy | Process | Massachusetts | ▪ Corporate carveout ESCO opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings |\n| **Company G** | Industrials | Proprietary | Quebec | ▪ Manufacturer of advanced energy storage systems displacing diesel-powered equipment |\n| **Company H** | Industrials | Proprietary | Louisiana | ▪ Manufactures steel poles and structures to the Electric Utility and Renewable Energy Industries |\n| **Company I** | Industrials | Proprietary | Quebec | ▪ 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 |\n| **Company J** | Energy | Process | Massachusetts | ▪ Offers home energy assessments, HVAC, insulation and other related energy-efficiency contracting primarily in Massachusetts |\n\n*(Note: In the original slide, a thick red outline encloses the rows for **Company A** through **Company D**.)*\n\n**[Red Square Outline]** = Priority deals\n\n---\n*The information contained in this presentation does not, in any way, constitute investment advice. Portfolio characteristics information may vary from time to time from the opportunities pipeline shown above.*\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER**\n**SUSTAINABLE** 10",
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"markdown": "# Sample pipeline | US$250M of priority opportunities\n\n| Company | Sector | Source | Headquarters | Description |\n| :--- | :--- | :--- | :--- | :--- |\n| **Company A** | Built Environment | Proprietary | British Columbia | ▪ Manufacturer of energy-efficient fiberglass window systems |\n| **Company B** | Energy | Proprietary | Tennessee | ▪ Sustainability tech-enabled consulting firm with a focus on technical tasks like carbon accounting, life cycle assessment (LCA) and sustainability reporting |\n| **Company C** | Energy | Formerly Auction, Now Proprietary | California | ▪ Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial and municipal customers accelerating clean energy adoption |\n| **Company D** | Energy | Proprietary | New Jersey | ▪ Global energy consulting firm assisting commercial and industrial organizations manage their energy management and sustainability processes |\n| **Company E** | Energy | Proprietary | Texas | ▪ BESS, wind, and solar O&M and commissioning services, including maintenance and inspection, repairs, cleaning and data analysis |\n| **Company F** | Energy | Process | Massachusetts | ▪ Corporate carveout ESCO opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings |\n| **Company G** | Industrials | Proprietary | Quebec | ▪ Manufacturer of advanced energy storage systems displacing diesel-powered equipment |\n| **Company H** | Industrials | Proprietary | Louisiana | ▪ Manufactures steel poles and structures to the Electric Utility and Renewable Energy Industries |\n| **Company I** | Industrials | Proprietary | Quebec | ▪ 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 |\n| **Company J** | Energy | Process | Massachusetts | ▪ Offers home energy assessments, HVAC, insulation and other related energy-efficiency contracting primarily in Massachusetts |\n\n*(Note: In the original slide, a thick red outline encloses the rows for **Company A** through **Company D**.)*\n\n**[Red Square Outline]** = Priority deals\n\n---\n*The information contained in this presentation does not, in any way, constitute investment advice. Portfolio characteristics information may vary from time to time from the opportunities pipeline shown above.*\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER**\n**SUSTAINABLE** 10",
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"gemini_markdown": "# US$750M\n\n*target raise for decarbonization-focused private equity strategy*\n\n* **Established, lower middle-market companies that benefit from secular decarbonization trends**\n* **US$330M committed capital already secured**\n* **Seeking both private equity returns and climate impact**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The strategy is newly-organized and has limited or no performance history.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 12",
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"markdown": "# US$750M\n\n*target raise for decarbonization-focused private equity strategy*\n\n* **Established, lower middle-market companies that benefit from secular decarbonization trends**\n* **US$330M committed capital already secured**\n* **Seeking both private equity returns and climate impact**\n\n***\n\nThe information contained in this presentation does not, in any way, constitute investment advice. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The strategy is newly-organized and has limited or no performance history.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 12",
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"gemini_markdown": "**Visual Representation:**\n\nThe slide features a solid dark teal background with a large, stylized central graphic. The graphic resembles an elongated number \"0\" or a vertical chain link that is split horizontally across the middle, creating two detached halves:\n* **Top Half:** An arch shape that masks a nature photograph showing a clear blue sky, rugged mountain peaks, and a green coniferous forest. \n* **Bottom Half:** A U-shape that masks a continuation/reflection of the scene, showing a calm body of blue water reflecting the sky and the dark silhouettes of the trees. \n\n**Text:**\n\nSTRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY\n\n**Logo (Bottom Right):**\nPOWER\nSUSTAINABLE",
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"markdown": "**Visual Representation:**\n\nThe slide features a solid dark teal background with a large, stylized central graphic. The graphic resembles an elongated number \"0\" or a vertical chain link that is split horizontally across the middle, creating two detached halves:\n* **Top Half:** An arch shape that masks a nature photograph showing a clear blue sky, rugged mountain peaks, and a green coniferous forest. \n* **Bottom Half:** A U-shape that masks a continuation/reflection of the scene, showing a calm body of blue water reflecting the sky and the dark silhouettes of the trees. \n\n**Text:**\n\nSTRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY\n\n**Logo (Bottom Right):**\nPOWER\nSUSTAINABLE",
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"gemini_markdown": "**Power Sustainable Decarbonization strategy terms**\n\n| | |\n| :--- | :--- |\n| **Focus** | Lower middle-market companies contributing to the decarbonization of the economy in the U.S. and Canada<br>Primarily focused on the energy, industrials, built environment and transportation sectors |\n| **Category** | Private equity |\n| **Currency** | USD |\n| **Target size** | $750 million |\n| **Target returns** | 25% gross / 20% net IRR<br>3.0x gross / 2.5x net MOIC |\n| **Fund term** | 10 years from the initial closing date, subject to extension |\n| **Management fees** | 2.00% on committed capital during the commitment period and on invested capital thereafter |\n| **Carried interest** | 20% of total returns over a hurdle of 8% (calculated on a whole of fund basis), 100% catch-up (European-style waterfall) |\n\n<br>\n\nThe information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering documents. The strategy is newly-organized and has limited or no performance history. The terms and conditions set forth herein are subject to change. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The information contained in this presentation does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 14",
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"markdown": "**Power Sustainable Decarbonization strategy terms**\n\n| | |\n| :--- | :--- |\n| **Focus** | Lower middle-market companies contributing to the decarbonization of the economy in the U.S. and Canada<br>Primarily focused on the energy, industrials, built environment and transportation sectors |\n| **Category** | Private equity |\n| **Currency** | USD |\n| **Target size** | $750 million |\n| **Target returns** | 25% gross / 20% net IRR<br>3.0x gross / 2.5x net MOIC |\n| **Fund term** | 10 years from the initial closing date, subject to extension |\n| **Management fees** | 2.00% on committed capital during the commitment period and on invested capital thereafter |\n| **Carried interest** | 20% of total returns over a hurdle of 8% (calculated on a whole of fund basis), 100% catch-up (European-style waterfall) |\n\n<br>\n\nThe information above briefly summarizes certain preliminary terms and conditions and does not contain all terms and conditions that will be included in the definitive offering documents. The strategy is newly-organized and has limited or no performance history. The terms and conditions set forth herein are subject to change. The expected IRRs shown have been taken using financial models, internal Power Sustainable data, and market expectations. These returns are not guaranteed, and past performance is not an indicator of future returns. The description set forth above is intended as a general illustration of some of the criteria considered in selecting investments. The information contained in this presentation does not, in any way, constitute investment advice.\n\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\n\n**POWER SUSTAINABLE** 14",
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"gemini_markdown": "**We have a well-defined deal process with sustainability engrained throughout**\n\n**Deal Process Flowchart**\nThe slide features a sequential process flow diagram represented by seven connected circular nodes along a horizontal axis. Each node has a descriptive label above it and an associated icon inside the circle. Below the timeline, gray upward-pointing arrows indicate specific committee interventions between stages. A dark green band originates from the right end of the timeline, drops down, and extends horizontally across the bottom to the left, acting as a foundational banner for the entire process.\n\n* **Stage 1: Sourcing & screening** (Icon: Magnifying glass over boxes)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 2: Prelim. due diligence** (Icon: Binoculars)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 3: Deep due diligence** (Icon: Microscope)\n * *Intervention:* Arrow pointing up to the timeline indicating an **Investment Committee** takes place before the next stage.\n* **Stage 4: Approval & closing** (Icon: Document with checkmarks)\n* **Stage 5: Value creation** (Icon: Growing plant sprout)\n* **Stage 6: Portfolio management** (Icon: Storage/file box)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 7: Exit** (Icon: Open door with an exiting arrow)\n * *Intervention:* Arrow pointing up to the timeline indicating an **Investment Committee** takes place after this stage.\n\n**Bottom Banner Text:**\nSustainability is integral to our investment strategy and process\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. Information above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE\n15",
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"markdown": "**We have a well-defined deal process with sustainability engrained throughout**\n\n**Deal Process Flowchart**\nThe slide features a sequential process flow diagram represented by seven connected circular nodes along a horizontal axis. Each node has a descriptive label above it and an associated icon inside the circle. Below the timeline, gray upward-pointing arrows indicate specific committee interventions between stages. A dark green band originates from the right end of the timeline, drops down, and extends horizontally across the bottom to the left, acting as a foundational banner for the entire process.\n\n* **Stage 1: Sourcing & screening** (Icon: Magnifying glass over boxes)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 2: Prelim. due diligence** (Icon: Binoculars)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 3: Deep due diligence** (Icon: Microscope)\n * *Intervention:* Arrow pointing up to the timeline indicating an **Investment Committee** takes place before the next stage.\n* **Stage 4: Approval & closing** (Icon: Document with checkmarks)\n* **Stage 5: Value creation** (Icon: Growing plant sprout)\n* **Stage 6: Portfolio management** (Icon: Storage/file box)\n * *Intervention:* Arrow pointing up to the timeline indicating a **Review Committee** takes place before the next stage.\n* **Stage 7: Exit** (Icon: Open door with an exiting arrow)\n * *Intervention:* Arrow pointing up to the timeline indicating an **Investment Committee** takes place after this stage.\n\n**Bottom Banner Text:**\nSustainability is integral to our investment strategy and process\n\n**Footer:**\nThe information contained in this presentation does not, in any way, constitute investment advice. The investment process described herein may change over time. Information above is subject to change.\n**STRICTLY PRIVATE & CONFIDENTIAL – FOR INVESTMENT PROFESSIONAL USE ONLY**\nPOWER SUSTAINABLE\n15",
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"POWER SUSTAINABLE MANAGER US, INC. official website -site:linkedin.com -site:pitchbook.com -site:crunchbase.com -site:swfinstitute.org -site:bloomberg.com -site:preqin.com -site:sec.gov -site:facebook.com -site:twitter.com -site:x.com -site:instagram.com",
"Power Sustainable asset management official website -site:linkedin.com -site:pitchbook.com -site:crunchbase.com -site:swfinstitute.org -site:bloomberg.com -site:preqin.com -site:sec.gov -site:facebook.com -site:twitter.com -site:x.com -site:instagram.com"
],
"secWebsiteUrls": [
"https://powersustainable.com"
],
"visitedUrls": [
"https://powersustainable.com",
"https://powersustainable.com/en/our-team",
"https://powersustainable.com/en/who-we-are"
]
},
"websiteUrls": [
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]
}