Tikehau Capital has hired two senior investment professionals to lead the expansion of the Paris-based firm’s climate and decarbonisation strategy in North America.
Alexander Bell is joining Tikehau as head of the firm’s North American Private Equity Climate Practice, while Cristian Norambuena is joining to serve as director of the practice. Both will be based in New York and work to build Tikehau’s private markets strategy to “accelerate the paradigm shift to a low-carbon economy”, a statement from the firm said.
Bell joins Tikehau from the Canadian pension giant Caisse de Dépôt et Placement du Québec, where he has spent the past five years running a C$500 million ($393 million; €343 million) growth equity programme focused on the energy transition, sustainable food and agriculture and industrial decarbonisation. Norambuena joins the firm from the New York City Comptroller’s Office where he helped manage the $30 billion private equity portfolio of the NYC Retirement Systems. Norambuena became the New York public pension systems’ fifth private equity team departure in under a year, according to affiliate title Private Equity International, which broke the news last month.
Tikehau manages a few climate-focused strategies, including the ongoing fundraise for the firm’s T2 North America Decarconisation Fund, which has so far collected at least $300 million. Last year, Tikehau closed the Europe-focused T2 Energy Transition Fund on €1.1 billion. This fund has backed 10 companies focused on clean energy generation, low-carbon mobility and energy efficiency.
Both the Europe and North American-focused strategies are tying carried interest to impact performance.
The firm also launched last year the Impact Lending Fund and the Impact Credit Fund. Overall, Tikehau aims to raise €5 billion by 2025 for climate impact funds in private equity, private debt and capital markets.
Tikehau manages around €34.3 billion in assets and invests across private equity, private debt, real assets and capital markets. In October, the firm appointed Pierre Abadie as group climate director to lead strategies under Tikehau’s Climate Action Centre.