A team led by Jennifer Powers and Reiner Boehning, who were formerly partners at Global Infrastructure Partners, will merge into Energy Capital Partners’ dedicated credit investing business and launch a sustainable credit platform named ECP ForeStar, which will offer credit solutions to an array of businesses focused on climate transition, decarbonization and sustainability. The platform will grow Energy Capital Partners’ existing credit strategy with an expanded team and more than $2.5 billion in initial capital allocations.
Powers and Boehning each have more than 35 years of experience in the lending, banking and fund management business. At Global Infrastructure Partners, they established, grew and led the GIP Credit platform, where they managed more than $5 billion of credit capital. Prior to forming ECP ForeStar, Powers and Boehning were managing directors at Forsight Sustainable Capital, where they were focused on originating and structuring commercial loans to borrowers across the climate transition, decarbonization and sustainability sectors.
“We are excited to welcome this talented team to our firm,” Doug Kimmelman, senior partner and founder of Energy Capital Partners, said. “Jen and Reiner are true pioneers in the sustainable credit space — much like ECP is across the energy transition infrastructure sectors — and they bring the right combination of credit investing experience, deep infrastructure sector knowledge and unique origination relationships that will advance and deepen ECP’s energy transition-focused investing goals. We believe our expanded ECP credit platform will leverage ECP’s sector expertise and will be well-positioned to offer a deeper set of investment capabilities across sustainability sectors. We look forward to coming to market with expanded sustainable credit offerings for our limited partner investors.”
Powers and Boehning will serve as co-managing partners of ECP ForeStar and will be partners at Energy Capital Partners, working with Mahmud Riffat, a partner at the firm who joined in 2017 and helped launch its credit solutions strategy, as well as Britt Pinkerton, a partner at ECP ForeStar who worked with Powers and Boehning at Forsight Sustainable Capital.
With solutions spanning project finance to leveraged loans, ECP ForeStar will partner with sustainable, asset-centric businesses to advance environmental goals and the credit platform’s own sustainability mandate. The platform will invest capital across all sources of emissions and economic activity, including in renewable energy; mobility; water, waste and agriculture; digital and technology; industrial decarbonization; and businesses that enable the sustainability transition and provide investors with assurances on sustainable alignment. The ECP ForeStar team has already sourced and deployed more than $500 million in transactions.
“We believe that the global economy is in the very early innings of a multi-decade sustainable credit investing opportunity and are thrilled to be working together with ECP to seize it,” Powers said. “Our extensive sector expertise and shared commitment to powering the sustainability transition will enable us to be a credit provider of choice for businesses essential to a sustainable future. Together with ECP, we will be able to capitalize on the significant tailwinds generated by growing federal investment in sustainable opportunities, rising corporate and consumer demand for sustainable business approaches and increased focus on energy security.”
“We are establishing ECP ForeStar with the goal of being the go-to provider of sustainable credit solutions across the capital stack,” Boehning said. “As part of ECP’s premier platform, we will benefit from their foundational domain knowledge, drive synergies in sourcing and evaluating investment opportunities and scale our offering to better serve our valued LPs. Our enhanced platform and rigorous approach, focused on sustainable outcomes, will position us to source attractive private credit opportunities while advancing essential decarbonization goals.”