Mr. Heyman brings tremendous experience, with
over three decades in wealth and asset management as a former
partner at Goldman Sachs, and as former U.S. Ambassador to
Canada.
Olivier
Desmarais, who started Power Sustainable in 2019, will
remain Chairman of the Board.
MONTREAL,
Oct. 2,
2024 /PRNewswire/ -- Power Sustainable, a leading
sustainability-focused alternative asset manager, today announced
the appointment of Bruce Heyman, former Goldman Sachs partner
and U.S. Ambassador to Canada, as
its new Chief Executive Officer. Mr. Heyman is joining Olivier Desmarais and his team, in order to
accelerate growth, particularly in the U.S. market, and to further
establish Power Sustainable as a global leader in sustainable
investments. Mr. Desmarais will remain Chairman of the Board.
Mr. Heyman has served as a Senior Advisor to Mr.
Desmarais and the Power Sustainable team since 2021, and has played
a key role in shaping the company's strategy.
"Bruce is the
perfect person to lead Power Sustainable as we enter this growth
phase. His track record and leadership in both the private and
public sectors, combined with his conviction in the opportunity of
sustainable economic growth, make him ideally suited to help us
expand our footprint, particularly in the U.S. market," said Mr.
Desmarais. "I look forward to partnering with Bruce and working closely with him to continue
driving growth at Power Sustainable," added Mr. Desmarais.
With 33 years of experience in wealth and asset
management at Goldman Sachs, Mr. Heyman brings extensive financial
sector expertise and a focus on long-term value creation. Moreover,
having served as U.S. Ambassador to Canada from 2014 to 2017, Mr. Heyman has a
deep appreciation of the importance and vast potential of the
US-Canada economic relationship. As CEO, Mr. Heyman will enhance
Power Sustainable's operational capabilities and elevate its brand
across the North American financial industry.
"I am honoured by the opportunity to work with
Olivier and continue building on the incredible foundation that he
has laid. Power Sustainable is uniquely positioned to accelerate
capital deployment in pursuit of both competitive returns and
positive sustainability impacts." said Mr. Heyman.
Mr. Heyman's top priorities as CEO will include
scaling Power Sustainable's reach, working with the investment
teams to deploy capital, and building the firm's leadership in
sustainability.
Since its founding five years ago, Power
Sustainable has grown rapidly and currently has CAD 3.9B in assets under management (as of
June 30, 2024). Backed by its
shareholders and strategic partners – Power Corporation of
Canada and Canada Life – the
company has become a standout player in the alternative asset
management space, employing several complementary investment
strategies focused on targeting sustainable outcomes and
competitive financial returns:
- Power Sustainable Energy Infrastructure (PSEI), based in
Montreal: PSEI invests in,
develops, and operates renewable energy projects across
North America. It launched in 2021
and has CAD 1.8B in capital
commitments from its limited partners. It is led by Pierre-Olivier Perras and John Pires.
- Power Sustainable Lios (PSL), based in Toronto: PSL is a specialized North American
agri-food private equity investment platform. PSL invests in
mid-market food companies and is led by Jonathan Belair, Craig
Hanna, and James
Rickert.
- Power Sustainable Infrastructure Credit (PSIC), based in
Miami: PSIC invests in a broad
range of sustainable infrastructure projects, from hyperscale data
centers to community solar. Last year, it announced a USD 600M commitment to the strategy. It is led by
Tom Murray.
- Power Sustainable Decarbonization (PSD), based in NYC: PSD
recently launched, and seeks to invest in mid-market companies that
contribute to the decarbonization of the North American economy. It
is led by Martin Aares and Karine
Khatcherian.
About Power Sustainable
Power
Sustainable is a sustainability-focused alternative asset manager
which finances companies and projects that aim for both competitive
returns and positive sustainability outcomes. The firm offers
institutional investors exposure to alternative assets, which aim
to accelerate and scale sustainable solutions across multiple
industries.
Power Sustainable is a subsidiary of Power
Corporation of Canada (TSX: POW)
(TSX: POW.PR.E), an international management and holding company
that focuses on financial services in North America, Europe, and Asia.
With CAD 3.9B in
assets under management (as of June 30,
2024), Power Sustainable's mission is to catalyze capital
towards clean global solutions. Learn more on Power Sustainable's
LinkedIn and Website.
For more information, contact:
Ian Cameron
Director of Communications
438 308-7697
cameron@powersustainable.com
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SOURCE Power Sustainable
