Insight

Ember Infrastructure wraps up maiden fund at $340m

Ember Infrastructure Fund I will invest in the energy transition and resource efficiency sectors.

-
  • The fund’s limited partners include public and private pensions, consultants, asset managers, foundations, insurance companies and family offices
  • Kirkland & Ellis LLP served as fund counsel
  • The Ember senior investment team includes infrastructure professionals Elena Savostianova, Mary Weisskopf and Caleb Powers

Ember Infrastructure has closed its debut fund at $340 million. Ember Infrastructure Fund I will invest in the energy transition and resource efficiency sectors. The fund’s limited partners include public and private pensions, consultants, asset managers, foundations, insurance companies, and family offices.

The Ember senior investment team includes infrastructure professionals Elena Savostianova, Mary Weisskopf and Caleb Powers, who were previously at Global Infrastructure Partners, and veteran energy executive Bob Kelly, who was previously at SolarCity and Calpine Corporation.

The fund has completed three investments to date, including the formation of ReGenerate Energy, a bioenergy platform with three facilities generating 138MW of renewable power; an investment in Caban Systems, a provider of energy storage and management solutions for the telecommunications industry; and an investment in SunShare, an established community solar developer.

“We are incredibly pleased with the support we’ve received from investors with a variety of objectives, including investors looking to achieve alpha in their infrastructure portfolios as well as investors who want to increase their allocations to sustainable investments but who want to still earn competitive returns,” said Elena Savostianova, managing partner of Ember, in a statement. “On the portfolio side, we are excited about the partnerships we’ve built to date with strong operating teams ready to capitalize on the tremendous growth opportunity offered by a new generation of infrastructure technologies.”

Kirkland & Ellis LLP served as fund counsel.

Ember Infrastructure is a private equity platform headquartered in New York.