Carlyle Creates Integrated Platform and Adds Leadership to Further Capture Significant Global Opportunities from the Energy Transition
Avik Dey joins as Co-Head of Carlyle International Energy Partners (“CIEP”)
Marcel van Poecke becomes Vice Chair of CIEP
NEW YORK and LONDON, May 12, 2022 – Global investment firm Carlyle (NASDAQ: CG) today announced the creation of an integrated platform which brings together the firm’s substantial resources, scale and capabilities to further invest behind the energy transition and capture significant opportunities around the world. In addition, Carlyle has announced several leadership changes to enhance this platform, which will operate within the firm’s Global Infrastructure business.
As the world seeks to decarbonize over the long-term, reposition and build new energy infrastructure, and responsibly manage traditional sources of energy, Carlyle is strategically refocusing the firm to be better positioned to continue to deliver on these emerging opportunities.
Carlyle has over 15 years of investing experience in infrastructure and energy spanning all major sectors - renewable energy, thermal power, upstream, midstream and downstream oil & gas, digital infrastructure, and transportation - making the firm one of the industry’s most diversified players. Within renewable energy, Carlyle has invested across the spectrum of opportunities including: utility-scale, commercial & industrial, community renewables generation & storage, and bi-directional EV charging.
The firm also leverages distinct capabilities and proprietary data within its portfolio, which provides a variety of operational advantages and opportunities as well as driving benefits of scale across its investments. Examples include: industry-leading capabilities to optimize power assets through the deployment of a technical and operating platform with over 100 employees; advanced methods to reduce methane emissions from offshore oil and gas facilities; carbon removal offset origination and trading activities; and the efficient procurement of renewable energy certificates. In addition, for the last three years Carlyle has performed bottom-up carbon footprints of Scope 1 and 2 emissions for its buyout portfolio1, providing robust emissions data which is helping the firm create and execute increasingly more effective decarbonization strategies across investments.
The integrated platform will centralize the firm’s deep infrastructure and energy capabilities on a global basis, and provide the vision, resources, structure and enhanced leadership to drive collaboration, insights and scale – all with the aim of better investment performance. The platform has 38 portfolio investments managed by over 40 investment professionals. The team leverages the insights of eight seasoned Operating Executives and Senior Advisors, alongside the firm’s global resources, including its ESG team which includes climate experts.
Effective summer 2022, Avik Dey will join Carlyle as Co-Head of Carlyle International Energy Partners (“CIEP”), the firm’s strategy targeting global energy investment opportunities outside of North America. Dey, who joins the firm from a leadership role at NOVA Chemicals, has had a distinguished career building CPP Investments’ energy practice to span a diversified portfolio of energy, power, and venture investments. He was the former global Head of Energy & Resources, and led the team that created CPP Investments’ Renewables strategy in 2016 that resulted in the creation of a separate Power & Renewables group.
Dey will work alongside Bob Maguire, who assumes the role of Co-Head of CIEP, and together they will be responsible for the activities of the fund. As part of this change, Marcel van Poecke steps up from Head of CIEP to become Vice Chair of CIEP, where he will remain actively involved with the fund and its portfolio, and the firm will continue to benefit from his considerable energy investing experience and network.
Effective immediately, Macky Tall, Chair of the Infrastructure Group, expands his role to lead the newly integrated platform and is now responsible for defining the vision and implementing Carlyle’s investment strategy across infrastructure and energy. Additionally, Pooja Goyal, Chief Investment Officer of the Infrastructure Group and Head of Renewable and Sustainable Energy, continues to play a leadership role.
Kewsong Lee, Carlyle CEO, said: “We continue to adapt and align the firm to ensure Carlyle is at the forefront of capturing the tremendous global investment opportunities presented by the energy transition. By combining our expertise into a single platform, enhancing our leadership, and drawing on the firm’s considerable global resources and portfolio companies, we are even better positioned to capitalize on these opportunities for our investors.”
Marcel van Poecke said: “We are delighted to welcome Avik to Carlyle. He is one of the industry’s leading energy investors specializing in decarbonization and we will benefit greatly from his deep expertise.”
Avik Dey said: “I am thrilled to be joining a team with such impressive experience investing behind the energy transition. I look forward to working with Bob to identify opportunities across the energy spectrum to help drive sustainable change and create value for investors over the long-term.”
Carlyle has an industry-leading position addressing the impacts of climate change. The firm was one of the first major private equity firms to join the call to accelerate the transition to a net zero economy with the establishment of both short- and long-term climate goals, and to achieve carbon neutral operations in 2018. In 2021, Carlyle co-led the creation of the ESG Data Convergence Project to track ESG metrics – including greenhouse gas emissions and renewable energy use – and standardize reporting in private equity.
1 Majority-owned portfolio companies in recent vintages of flagship buyout funds.
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This release does not constitute an offer for any Carlyle fund.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $325 billion of assets under management as of March 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,900 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
Notes to Editors:
Examples of Global Infrastructure platform investments where Carlyle has developed proprietary energy transition insights include:
- Formation of Copia Power, a utility-scale sustainable infrastructure platform with a pipeline of 7GWac of renewable energy assets and over 3GWh of battery storage assets
- Investment in NineDot, a cleantech developer that designs and deploys community-scale generation and battery storage projects
- Investment in Fermata, an electric vehicle charging and services company targeting the growing bi-directional EV charging market, working with leading automakers including Ford and Nissan
- Investment in Cogentrix Energy Power Management, a North American power asset management and technical operating platform with over 35 years of operating history and engineering experience, including gas-fired and oil-fired generation and renewables generation
- Execution of significant decarbonization strategies at Cepsa, Europe’s largest privately-owned integrated energy company, and VARO Energy, an energy company active in North West Europe
Additional background information on Avik Dey:
- Prior to joining CPP Investments, Avik was General Partner & Co-Founder of Coyotes Management LLC, the General Partner for the Arizona Coyotes Hockey Club.
- At CPP Investments, Avik served as a member of their Real Assets Management Committee and the Real Assets Investment Committee.
- In 2017, he was named to Canada’s Top 40 under 40, an awards program that identifies outstanding young achievers in Canadian business.
- Avik holds a Bachelor of Commerce from the University of Calgary.
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