Canada- and Miami-based Power Sustainable has brought in $800 million in fresh LP commitments for its inaugural infrastructure private credit fund and separately managed accounts, bringing the strategy’s total raised to $1 billion. The alternative investment manager is a unit of Power Corporation of Canada, a publicly traded holding company controlled by the wealthy Desmarais family.
Since 2019, Power Sustainable has set out to raise capital from global pension funds, family offices and other institutional investors. “We have strong conviction in the opportunity for private credit in infrastructure across the core sectors of the economy, where demand for tailored, asset-backed financing solutions continue to grow,” says Power Sustainable’s Thomas Murray, who joined the firm from Apollo Global Management.
Green infrastructure
Power Sustainable says it sees investor interest in follow-on infrastructure credit vehicles in energy and decarbonization, transportation and logistics, and utilities and recycling.
Power Sustainable also operates a private equity infrastructure business focused on cash-yielding renewable energy assets, and a decarbonization strategy investing in middle-market companies in the US and Canada. That strategy is backed by Canada Life, Export Development Canada, Fonds de solidarité FTQ, and Power Corp.
