A former partner at Energy Capital Partners has launched SER Capital Partners to invest in sustainable, environmentally focused and renewable energy, sources told Buyouts.
Rahul Advani, who worked at Energy Capital from 2005 to 2018, launched SER, which is working on several pre-fund deals. SER is expected to target $750 million for its debut fund, one of the sources said, though the timing of the fund launch is not clear. The San Francisco-based firm has not filed a Form D with the SEC at this time.
Prior to Energy Capital, Advani worked at Orion Power Holdings. SER is working with Metric Point Capital.
Advani is joined by several investment executives, including Kelly Sarber, who has worked in waste, water and other infrastructure; Christopher Smith, an executive with Sunnova, which provides battery storage, system protection services and residential solar; Rhem Wooten, formerly an executive with Hannon Armstrong Sustainable Infrastructure; and Puneet Verma, former principal of project finance at Bloom Energy.
SER’s advisory board includes Frank DeRosa, former CEO of NextLight Renewable Power, Scott Helm, chairman of Vistra Energy, and Steve Herman, a former managing director at Energy Capital.
Energy Capital is busy with its own fundraising. It is targeting $6 billion for its fourth fund. The firm invests across various energy-related assets, including fossil-fuel and renewable-power facilities, pipelines, gas-storage facilities and service providers.
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