Announcing New Partnership: Nereus Capital
SEATTLE/DENVER, (December 14, 2010) – Northern Lights Capital Group, LLC (“Northern Lights”), which provides strategic resources and capital to boutique asset management firms, has invested in Nereus Capital (“Nereus”), a private equity firm targeting renewable energy and clean technology opportunities in India, it was announced today. Terms of the transaction were not disclosed.
Nereus was founded by Jonathan Winer, who previously served as a Director of the D.E. Shaw group’s India private equity practice. Nereus provides growth capital to businesses active in the development, construction, and operation of renewable power generation assets in India.
“Among emerging markets, India is one of the most attractive places to deploy private equity capital,” said Tim Carver, Managing Director at Northern Lights. “Nereus brings a unique combination of experience in private equity, project finance, and renewable energy to what is one of the world’s fastest growing energy markets. We are pleased to have the opportunity to invest with this firm and its management team.”
“Northern Lights has an excellent understanding of the private equity business, and brings both investment capital and distribution support to our business,” said Winer. “They appreciate that the evolution of the crowded Indian private equity market benefits investment managers with a focused approach, differentiated teams, and an emphasis on securing uncorrelated excess return.”
One of the world’s fastest growing renewable energy markets, India is expected to invest as much as $30 billion (U.S.) in renewable energy over the next decade, with underlying electricity demand growing at about eight percent annually. At the same time, structural inefficiencies within the market have created exceptionally high prices for electricity, making many renewable projects economic without government incentives or substantial leverage.
“The build-out of green energy infrastructure is a long-term global trend that we believe will continue to create great investment opportunities for private equity,” said Carver. “Within that context, India, with the unique economics of its energy market, can provide excellent risk-adjusted return for equity financing of green infrastructure. Going forward, we will continue to look for other similarly compelling situations, both in the U.S. and around the world.”
About Northern Lights Capital Group, LLC
Northern Lights Capital Group is dedicated to identifying and collaborating with leading boutique asset managers exhibiting exceptional investment skill with client-oriented business cultures. We apply our strategic resources, including operating capital, institutional distribution, access to seed capital, and operational expertise to help our partner companies excel. Northern Lights: Boundless Opportunities. Enlightened Investments.
About Nereus Capital
Nereus Capital is an alternative asset manager investing in industries undergoing transformative change. The company’s flagship fund, the India Energy Fund, provides flexible financing to companies engaged in renewable power generation and clean technologies in India. For more information, please visit www.nereuscap.com.