Capital Dynamics clean energy execs move to KKR for renewables

Two clean energy-focused senior executives at Capital Dynamics left recently to work on a similarly-focused effort at KKR, sources told Buyouts.

A spokesperson for Capital Dynamics confirmed the departures.

The executives, Tim Short and Benoit Allehaut, joined KKR to focus on investments in what the firm calls “energy transition,” which includes renewables, storage and related energy infrastructure, sources said.

Not much information is available about the energy transition strategy. A KKR spokeswoman declined to comment. Short and Allehaut did not respond to LinkedIn requests for comment.

KKR last year announced it invested $2 billion across a series of renewable energy agreements with energy provider NextEra Energy and NextEra Energy Partners. It also launched Virescent Infrastructure last year, a platform to acquire and operate renewable assets in India.

Short worked at Capital Dynamics from 2010 to February, according to his profile. He ended his time at the firm as a managing director helping lead and manage aspects of the clean energy infrastructure platform, his profile said. Short previously worked at Greentech Capital Advisors and UBS, his profile said.

Allehaut worked at Capital Dynamics 2013 to January, his LinkedIn profile said. He left the firm as a managing director. Before CapDyn, Allehaut worked at BlackRock and GE Capital, his profile said.

It’s not clear if Capital Dynamics has named anyone to move into the roles vacated by Short and Allehaut. The team is led by John Breckenridge, senior managing director, and Simon Eaves, managing director who leads the Europe focus.

Capital Dynamics focuses on operational, construction-ready and late-stage development assets, with an emphasis on commercial and utility-scale, clean and low-carbon power generation assets, according to the firm’s Form ADV.

The firm closed its most recent clean tech fund in 2018, raising $1.2 billion for Capital Dynamics Clean Energy and Infrastructure VII, the firm said at the time. Fund VII raised money from several large investors, including California’s teachers’ pension, Dutch asset manager APG and sovereign fund Abu Dhabi Investment Authority.

Capital Dynamics appears to have another clean energy infrastructure fund in market, with a Form D fundraising document filed last year. The filing does not indicate a target or how much has been raised so far.