# Pitch Deck Extraction team_and_track_record Response ## Technical Context - **Task Name**: Pitch Deck Extraction - team_and_track_record - **Workflow Run ID**: 28 - **Timestamp**: 2026-07-23T21:55:45.215Z ## Grounded Intelligence Data # team_and_track_record ## 1. GP & Strategy Overview * **Strategy Name:** Power Sustainable Decarbonization (PSD) [Page 2] * **Investment Focus:** Scaling lower middle-market companies that decarbonize the economy across the U.S. and Canada [Page 2]. * **Target Sectors:** Energy, industrials, built environment, and transportation [Page 2]. * **Target Fund Size / Commitments:** Targeting US$750M in total commitments [Page 2, Page 14]. Currently secured US$330M in committed capital, with US$420M targeted from new partners [Page 2, Page 12]. * **Target Financial Returns:** * 25% Gross IRR / 20% Net IRR [Page 2, Page 14]. * 3.0x Gross MOIC / 2.5x Net MOIC [Page 14]. * **Fund Terms:** * **Fund Term:** 10 years from the initial closing date, subject to extension [Page 14]. * **Management Fees:** 2.00% on committed capital during the commitment period, and on invested capital thereafter [Page 14]. * **Carried Interest:** 20% of total returns over an 8% hurdle rate (calculated on a whole-of-fund basis), with a 100% catch-up (European-style waterfall) [Page 14]. --- ## 2. Team Directory and Classifications ### PSD Investment Team (Primary Investing, Underwriting, & Sourcing) * **Karine Khatcherian – Managing Partner (20+ years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** Co-leads the PSD investment strategy. Member of the PSD Investment Committee. NYC-based. Previously co-led a lower middle-market buyout fund at Closed Loop Partners, with prior experience at GE and ABB. Languages: English (EN), French (FR) [Page 2, Page 4]. * **Prior Track Record Contribution:** 28 deals closed, advised, or extensively diligenced [Page 3]. * **Martin Aares – Managing Partner (20+ years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** Co-leads the PSD investment strategy. Member of the PSD Investment Committee. NYC-based. Previously co-led a lower middle-market buyout fund at Closed Loop Partners, with prior experience at GE, Goldman Sachs, and American Express. Languages: English (EN), Norwegian (NO) [Page 2, Page 4]. * **Prior Track Record Contribution:** 22 deals closed, advised, or extensively diligenced [Page 3]. * **Natalie Deschamps – Principal (15+ years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** Canada-based. Prior employers include CPP Investments and McKinsey & Company. Languages: English (EN), French (FR) [Page 4]. * **Randy Harrigan – Principal (15+ years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** NYC-based. Prior employers include Alvarez & Marsal and Roark Capital Group. Languages: English (EN) [Page 4]. * **Francisco Baviera – Associate (2 years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** NYC-based. Prior employer: Citi. Languages: English (EN), French (FR), Spanish (SP), Catalan (CA) [Page 4]. * **Katherine Kent – Associate (5 years experience)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** Canada-based. Prior employer: RBC Capital Markets. Languages: English (EN), French (FR) [Page 4]. * **Eoin Ó hÓgáin – Partner & CIO (Power Sustainable)** * **isInvestmentTeam:** `true` [Page 4] * **Role / Bio:** Serves as Partner and Chief Investment Officer for Power Sustainable, and is a designated PSD Investment Committee member [Page 4]. ### PSD Operating Advisors & Support Functions * **Pete Smith – Operating Advisor (25+ years experience)** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Provides operational advisory support to the PSD portfolio. Prior employers include Aviat and Honeywell [Page 4]. ### Power Sustainable (PS) Corporate & Platform Leadership (Montreal-based) * **Olivier Desmarais – Chairman** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Leads overall corporate governance for the Power Sustainable platform [Page 4]. * **Bruce Heyman – CEO** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Chief Executive Officer of the Power Sustainable platform [Page 4]. * **Connor Lyons – Partner & Head of Sustainability** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Leads corporate sustainability frameworks across the Power Sustainable platforms [Page 4]. * **Delia Cristea – Partner, COO & General Counsel** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Manages platform operations, legal compliance, and structuring [Page 4]. * **May Jan Hum – Chief Compliance Officer** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Oversees compliance and regulatory standards for the platform [Page 4]. * **Dominic Grimard – Partner & CFO** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Manages platform financial accounting, budgeting, and operations [Page 4]. * **Lauren Shanahan – Head of Talent & Culture** * **isInvestmentTeam:** `false` [Page 4] * **Role / Bio:** Manages human capital, talent acquisition, and organizational development [Page 4]. --- ## 3. Historical Track Record *The track record data represents aggregate historical investments made by individual senior leadership team members (Karine Khatcherian and Martin Aares) prior to joining Power Sustainable. These metrics have not been subject to independent verification.* [Page 3] * **Total Joint/Individual Deals (Closed, Advised, or Extensively Diligenced):** 50 deals [Page 3]. * **Karine Khatcherian:** 28 deals [Page 3]. * **Martin Aares:** 22 deals [Page 3]. * **Total Transaction Volume:** US$17B+ (inclusive of deals closed, advised, and extensively diligenced) [Page 3]. * **Average Deal Check Size:** US$165M (closed deals only) [Page 3]. * **Co-investment / Partnership History:** The managing partners represent a "3rd time team," having most recently co-led a lower middle-market buyout fund at Closed Loop Partners [Page 2, Page 3]. * **Past Fund Metrics (Net/Gross IRR, TVPI, DPI, RVPI):** Specific historical net/gross fund performance metrics (such as explicit Net IRR, DPI, RVPI, or TVPI for prior funds) are not individually broken down in this document. --- ## 4. Pipeline Case Studies & Target Investment Profiles ### Deep-Dive Pipeline Examples [Page 7] #### Company A: Transformer Services Platform * **Overview:** Transformer services platform providing a one-stop-shop to utilities and independent power producers. Services include transformer repair, refurbishment, decommissioning, field solutions, and recycling [Page 7]. * **Initial Equity Investment:** US$70M - US$80M [Page 7]. * **Co-invest Opportunity:** Yes [Page 7]. * **Ownership Type / Percentage:** Control / 85% - 90% [Page 7]. * **Investment Thesis & Rationale:** * **Aging Infrastructure & Electrification:** Secular growth drivers are pushing sustained demand for power transformers and support services [Page 7]. * **Revenue Visibility:** Excellent long-term visibility underpinned by 3 to 5+ year contracts from a sticky, contracted customer base [Page 7]. * **Financial Profile:** Highly attractive margin profile with 55% - 60% gross margins in key operational business segments [Page 7]. #### Company B: Tech-Enabled Energy Advisor * **Overview:** Technology-enabled energy advisor focusing on energy management and procurement for commercial, industrial, and municipal customers. Helps clients navigate complex energy markets, achieve sustainability goals, and ensure energy resiliency [Page 7]. * **Initial Equity Investment:** US$75M [Page 7]. * **Co-invest Opportunity:** Yes [Page 7]. * **Ownership Type / Percentage:** Control / 90% [Page 7]. * **Investment Thesis & Rationale:** * **Capital Efficiency:** Highly capital-efficient business model with high customer retention ("sticky" customer base) [Page 7]. * **Revenue Visibility:** Multi-year customer contracts provide strong, stable forward revenue streams [Page 7]. * **Sustainability Alignment:** Uniquely positioned to guide clients through decarbonization roadmaps, including virtual/physical Power Purchase Agreements (PPAs), behind-the-meter generation, and demand response programs [Page 7]. --- ### Priority Deal Pipeline ($250M Total Value) [Page 10] The following table outlines priority pipeline targets designated as high-focus opportunities by PSD: | Target Company | Sector | Sourcing Channel | HQ Location | Business Description / Thesis Highlights | | :--- | :--- | :--- | :--- | :--- | | **Company A** | Built Environment | Proprietary | British Columbia | Manufacturer of energy-efficient fiberglass window systems [Page 10]. | | **Company B** | Energy | Proprietary | Tennessee | Sustainability tech-enabled consulting firm specializing in technical tasks (carbon accounting, Life Cycle Assessments (LCA), and sustainability reporting) [Page 10]. | | **Company C** | Energy | Formerly Auction, Now Proprietary | California | Regional energy advisory firm providing procurement, management, and sustainability services to commercial, industrial, and municipal customers to accelerate clean energy adoption [Page 10]. | | **Company D** | Energy | Proprietary | New Jersey | Global energy consulting firm assisting commercial and industrial organizations with energy management and sustainability processes [Page 10]. | --- ### Additional Pipeline Pipeline Opportunities [Page 10] | Target Company | Sector | Sourcing Channel | HQ Location | Business Description / Thesis Highlights | | :--- | :--- | :--- | :--- | :--- | | **Company E** | Energy | Proprietary | Texas | Battery Energy Storage Systems (BESS), wind, and solar O&M (Operations & Maintenance) and commissioning services. Includes inspection, repairs, cleaning, and data analysis [Page 10]. | | **Company F** | Energy | Process | Massachusetts | Corporate carve-out Energy Service Company (ESCO) opportunity, providing energy efficiency upgrades and facility O&M services to public and private sector buildings [Page 10]. | | **Company G** | Industrials | Proprietary | Quebec | Manufacturer of advanced energy storage systems designed to displace diesel-powered equipment [Page 10]. | | **Company H** | Industrials | Proprietary | Louisiana | Manufactures steel poles and structural systems dedicated to electric utilities and the renewable energy industries [Page 10]. | | **Company I** | Industrials | Proprietary | Quebec | Manufactures, installs, and maintains heating, cooling, and industrial refrigeration systems utilizing natural refrigerants and low-carbon technologies [Page 10]. | | **Company J** | Energy | Process | Massachusetts | Offers residential energy assessments, HVAC installations, insulation, and related energy-efficiency contracting [Page 10]. |