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- Climate investment strategy will invest across the ecosystem in transition assets as well as transition enablers
- Co-led by Kush Patel and another identified Partner joining in 2024, the team seeks to leverage the full Permira platform to help growth-oriented climate leaders deliver transformational growth at scale
Permira, the global private equity firm, announced it has appointed a dedicated team to identify investment opportunities across the climate transition value chain. The team, led by Kush Patel and another identified Partner joining in 2024, based in New York and London respectively, will have a global, dual focus on climate transition assets (which includes projects and platforms) and enablers (which includes associated products, services and technology), creating synergies that will support investments and value creation.
Kush Patel joined Permira in 2023 as a Partner from Blackstone, where he played a senior role in its global energy transition strategy, focusing on investments in the power / renewables, energy technology, energy services, and energy efficiency sectors. Prior to this, Kush was a public markets energy investor at King Street Capital and Kingsland Capital Management. Kush will be joined later in 2024 by another identified Partner & Co-Head with a long-term track record of investing in energy and energy transition assets in Europe. Together, they are supported by a dedicated investment team based in New York and London.
With over 35 years of investing in secular growth trends, Permira’s experience and deep expertise across technology, services and sustainability, coupled with the experience of its dedicated climate investing team, positions the firm well to invest in and scale climate transition leaders across several thematic sub-sectors, including renewable energy, resource efficiency, decarbonisation of hard-to-abate sectors and grid modernisation. Permira’s established network of sector specialists and footprint across 15 global offices, as well as its in-house operational value creation and sustainability expertise, will be used to scale local champions globally, in line with Permira’s focus on growth and internationalisation.
Kurt Björklund, Managing Partner at Permira, said: “The world is transitioning towards a net-zero economy which will require a substantial reduction in emissions and a significant societal transition. We have identified a need for capital to help accelerate decarbonization in the growth and buyout portion of the market that sits between venture capital and infrastructure. Our platform, coupled with our dedicated team, mean we are well-suited to partner with climate-transition leaders to help them expand successfully, sustainably and for the long term.”
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Kush Patel, Partner and Global Co-Head of Climate investing at Permira, added: “We believe the climate transition is an exceptional global growth opportunity and is at an inflection point. With converging public and private sector focus and momentum, it represents a $12trn cumulative revenue opportunity by 2030. The amount of physical infrastructure that needs to be upgraded, replaced or built – and the innovative technologies, products and services that will be needed to enable this – is immense. With deep experience and expertise within both of these areas, we aim to be the partner of choice for leading businesses and teams to help them deliver transformational growth at scale.”