Power Sustainable announces final Vintage II closing of $800M for Power Sustainable Energy Infrastructure partnership

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Power Sustainable announces final Vintage II closing of $800M for Power Sustainable Energy Infrastructure partnership

Canada NewsWire

MONTREAL, Nov. 29, 2023 /CNW/ -- Power Sustainable, an alternative asset manager, today announced a CAD $200 million commitment for the Power Sustainable Energy Infrastructure partnership (the "Fund"), for a final close of CAD $800 million for Vintage II. This brings the total capital commitment to the Fund to $1.8 billion.

"We are very pleased to announce this final close of $800 million, particularly given current market and fundraising conditions," said Pierre-Olivier Perras, Managing Partner of the Fund. "We are grateful for the continued support of our existing capital partners, and for the confidence shown in our team by new investors."

The Power Sustainable Energy Infrastructure Partnership is led by Pierre-Olivier Perras and John Pires. As Power Sustainable's pure-play renewable energy fund, its investment focus is on equity infrastructure in North America.

About Power Sustainable

Power Sustainable is a climate-focused investment manager which finances companies and projects aiming for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets which aim to accelerate and scale sustainable solutions across multiple industries.

Power Sustainable is a wholly owned subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company that focuses on financial services in North America, Europe and Asia. Power Corporation's core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.

With just over CAD$4 billion in assets under management, Power Sustainable's mission is to catalyze capital towards clean global solutions.

Contact

Ian Cameron
Director of Communications, Power Sustainable
438-308-7697
[email protected]

Cision View original content:https://www.prnewswire.com/news-releases/power-sustainable-announces-final-vintage-ii-closing-of-800m-for-power-sustainable-energy-infrastructure-partnership-302000086.html

SOURCE Power Sustainable

Cision View original content: http://www.newswire.ca/en/releases/archive/November2023/29/c5465.html

Copyright CNW Group 2023

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