Ember Infrastructure closed its inaugural fund focused on the energy transition with $340 million of capital commitments from global investors including pensions, foundations, insurance companies and family offices.
The Resource efficiency sector is the focus for the Ember Infrastructure Fund I, which is managed by a team of professionals — Elena Savostianova, Mary Weisskopf and Caleb Powers — who came from Global Infrastructure Partners. They are also working with veteran energy executive Bob Kelly, formerly of SolarCity and Calpine Corporation. Rounding out the investment team are former Global Infrastructure Partners staff Alex Smyk and Barrett Veazy.
“We are incredibly pleased with the support we’ve received from investors with a variety of objectives, including investors looking to achieve alpha in their infrastructure portfolios as well as investors who want to increase their allocations to sustainable investments but who want to still earn competitive returns,” said Savostianova, managing partner of New York-based Ember.
Kirkland & Ellis LLP served as fund counsel for the fund launch.
So far, the fund has made three investments. These are the formation of ReGenerate Energy, a bioenergy platform; an investment in Caban Systems, a provider of energy storage and management solutions for the telecommunications sector; and an investment in SunShare, a community solar developer.
According to Savostianova, the firm is excited about the partnerships established to date with strong operating teams ready to capitalize on the growth opportunity offered by a new generation of infrastructure technologies.
“We are thrilled to direct our expertise and capital towards the businesses building the infrastructure that we believe can bring us closer to a sustainable future,” she added.
