Global investment firm Permira has appointed a dedicated team to identify investment opportunities across the climate transition value chain. The team is being led by Kush Patel and another identified Partner joining later this year. They will be based out of New York and London, respectively, and will focus on climate transition assets (projects and platforms) and enablers (associated products, services, and technology).
Patel joined Permira last year as a Partner from Blackstone, where he played a senior role in the global energy transition strategy, focusing on power/renewables, energy technology, services, and efficiency sectors. Before that, Patel was a public markets energy investor at King Street Capital and Kingsland Capital Management. And Patel will be joined later this year by another identified partner and co-head with a long-term track record of investing in energy and energy transition assets in Europe.
Permira has 35+ years of investing in secular growth trends, and its experience spans technology, services, and sustainability. It also has experience in climate investing, positioning the firm to invest in and scale climate transition leaders across several thematic subsectors, including renewable energy, resource efficiency, decarbonisation of hard-to-abate sectors, and grid modernisation.
KEY QUOTES:
“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.”
– Kurt Björklund, Managing Partner at Permira
“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.”
– Kush Patel, Partner and Global Co-Head of Climate investing at Permira
