Credit Suisse 'Cavalier’ Towards Renewable Energy

Mar 28 2008 | 10:48am ET

Credit Suisse is set to commit as much as $300 million to renewable energy investments under a deal with private equity firm Hudson Clean Energy Partners.

Under the joint venture, John Cavalier, head of CS’s renewable energy investment banking practice, will join Hudson as a partner. Cavalier and Neil Auerbach, Hudson’s founder, will be the managing partners of the investment platform.

“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,” said Cavalier.

Hudson’s investment strategy focuses on high-growth, asset-based, capital-intensive segments of the clean energy value chain using commercialized technologies to extract energy from wind, solar, geothermal, biomass and other renewable sources.

Prior to founding Hudson, Auerbach was a partner at Goldman Sachs, where he created and led its U.S. alternative energy investment business and managed more than $3 billion in assets for the firm.

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