Credit Suisse to Invest $300M in Renewables
Credit Suisse and its partners will invest at least $300 million in the renewable energy sector through private equity firm Hudson Clean Energy Partners. Read More
Credit
Suisse and its partners will invest at least $300 million in the
renewable energy sector through Hudson Clean Energy Partners, the bank
announced Thursday.
As part of the deal between Credit Suisse and Hudson, John
Cavalier, the head of the bank’s renewable energy investment banking
practice, will join Hudson as a partner. Hudson is a private equity
firm that invests in the clean energy market.
“Credit Suisse has been looking to invest its own capital in
renewable energy for a long time, and the firm has been supportive of
my desire to transition from investment banking to principal investing
in the sector,” Cavalier said. “We were highly selective in searching
for the right team.”
Cavalier joins Neil Auerbach, Hudson’s co-founder and former
partner at Goldman Sachs. While at Goldman Sachs, Auerbach managed more
than $3 billion in assets and created its U.S. alternative energy
investment business.
It is the second time in as many weeks that a large financial
services company signaled a multi-million dollar commitment to the
sector. Last week, HSBC
said it would investing pay $200 million for a 49 percent stake in
Partnerships for Renewables, a group set up by Carbon Trust to put
renewable energy projects on public land in the United Kingdom.
