GDEV | Greenbacker Development Opportunities Fund

GDEV MANAGEMENT

GDEV 2024 Energy and Impact Report

Download our report to learn about our mission, team, and contributions to the sustainable infrastructure landscape.

GDEV makes private equity investments in middle market sustainable infrastructure businesses. The GDEV team leverages deep experience in project development, structured finance, and operations to identify best-in-class management teams and help them navigate periods of significant growth and change.

GDEV has raised and deployed almost $400 million across over a dozen high growth companies. GDEV’s investments include a wide range of sustainable infrastructure and renewable energy technologies, with a focus on distributed energy resources (DERs). Our sector expertise includes solar power, battery storage, hydroelectric generation, energy efficiency, electrified transport, and sustainable fuels.

TEAM

BEN BAKER

Ben is the Managing Director of Greenbacker Development Opportunities Fund, leading the origination and execution of Greenbacker’s growth capital investments. He brings deep experience across the renewable energy industry, having held positions in both development (Delaware River Solar, Safari Energy) and private equity (Hudson Clean Energy, GE EFS). Ben began his career in power and utilities investment banking and holds both a BA and an MBA from Columbia University.

BEN BAKER

MANAGING DIRECTOR AND GROUP HEAD, GDEV

LEA BEYLOT-LACROIX

LEA BEYLOT-LACROIX

ASSOCIATE, GDEV

TRIXIE BLAIR

Trixie is a Principal in the Greenbacker Development Opportunities Fund, focusing on transaction origination, execution, and portfolio management. Before joining Greenbacker, she was a vice president at Evercore, where she focused on M&A advisory for power, utility, and renewable energy companies, advising on over $15 billion of transactions. Prior to Evercore, she was at HSBC. Trixie graduated cum laude from the University of the Philippines Diliman with a degree in Business Administration and Accountancy. She holds an MBA from the Wharton School of the University of Pennsylvania.

TRIXIE BLAIR

PRINCIPAL, GDEV

JEROME BRIENS

JEROME BRIENS

VP, GDEV

DANIEL DRUCKER

DANIEL DRUCKER

FUND CONTROLLER, GDEV

RUSHABH NAHAR

RUSHABH NAHAR

ASSOCIATE, GDEV

THOMAS OBERMEIER

THOMAS OBERMEIER

AVP, GDEV

QUINN PASLOSKE

Quinn is a Managing Director in the Greenbacker Development Opportunities Fund, working on principal investments, fundraising, and portfolio management; he joined the newly formed group in 2021. Before Greenbacker, he held multiple direct investing positions on both the buy and sell sides of the energy industry, focused primarily on renewable direct investment. During his four years at Nomura, Quinn was a founding member of the infrastructure and power finance group. He also directed underwriting of over $1.5 billion of credit products to renewable energy assets and portfolios. Before Nomura, Quinn was in NRG’s corporate finance group, working on M&A transactions, project financings, and corporate financings. Quinn graduated from Fordham University with degrees in Economics and Sustainable Business.

QUINN PASLOSKE

MANAGING DIRECTOR, GDEV

BRUCE USHER

Bruce Usher is a member of the GDEV Investment Committee. On a full-time basis, he is a Professor of Professional Practice and the Elizabeth B. Strickler '86 and Mark T. Gallogly '86 Faculty Director of the Tamer Center for Social Enterprise at Columbia Business School. Professor Usher teaches on the intersection of finance, social and environmental issues, and is a recipient of the Singhvi Prize for Scholarship in the Classroom, the Lear Award, and the Dean’s Award for Teaching Excellence.

Professor Usher has written numerous cases for use in business school courses, with a primary focus on climate change and business. In 2019, Usher published Renewable Energy: A Primer for the Twenty-First Century (Columbia University Press), the first in the Earth Institute’s sustainability series of books.

Prior to his work at Columbia, Professor Usher was CEO of EcoSecurities Group plc, which developed greenhouse gas emission reduction projects in developing countries. EcoSecurities was acquired by JP Morgan in 2009. Professor Usher was previously the co-founder and CEO of TreasuryConnect LLC, which provided electronic trading solutions to banks and was acquired in 2001. Prior to that, he worked in financial services for twelve years in New York and Tokyo. Professor Usher is an active investor and advisor to entrepreneurial ventures focused on climate change and clean energy (UsherWorks.com). He is a board member of Community Energy, OptiRTC, and CapShift, and is Chair of the Tamer Fund for Social Ventures. Usher earned an MBA from Harvard Business School.

BRUCE USHER

GDEV INVESTMENT COMMITTEE MEMBER

CINDY WEI

CINDY WEI

VP, GDEV

ALEXANDER WORTHY

Alex is a Principal in the Greenbacker Development Opportunities Fund, focusing on transaction origination, execution, and portfolio management. Prior to joining Greenbacker, he was a vice president at Onyx Renewable Partners, a leading solar and storage development platform founded by funds managed by The Blackstone Group and presently owned by Sustainable Development Capital LLP. During his tenure at Onyx, Alex played a key role in the firm’s capital markets activity and raised substantial capital across numerous construction debt, term debt, and tax equity facilities. Alex started his career at the New York Green Bank, where he originated, structured, and managed credit transactions in the sustainable infrastructure space. Alex graduated with Highest Distinction from the University of North Carolina with a degree in Global Studies.

ALEXANDER WORTHY

PRINCIPAL, GDEV

Portfolio

FUND GDEV I

SECTOR Solar, battery storage

STATUS Partially realized

DATE 4Q2020

Strategic investment in Chaberton Energy, a developer of solar photovoltaic projects in the Mid-Atlantic region

View open positions

FUND GDEV I

SECTOR Solar, battery storage

STATUS Realized

DATE 3Q2021

Strategic Investment in CEP Solar, a developer of distributed and utility-scale solar and storage projects in Virginia

View open positions

FUND GDEV I and GDEV II

SECTOR Storage

STATUS Unrealized

DATE 4Q2021

Strategic investment in Lightshift Energy, a developer of battery storage assets in the Northeast and Mid-Atlantic regions

View open positions

FUND GDEV I

SECTOR Hydroelectric

STATUS Realized

DATE 4Q2020

Strategic investment in Dichotomy Power, an owner-operator of small hydroelectric generating facilities in the Northeast

FUND GDEV I

SECTOR Hydroelectric

STATUS Unrealized

DATE 4Q2020, 1Q2023

Strategic investment in Relevate Power, an owner-operator of small hydroelectric generating facilities in the Northeast and other select markets; Relevate Power is the successor entity to Clear Energy Renewables which acquired Dichotomy Power in May 2023

View open positions

FUND GDEV I

SECTOR Solar, battery storage

STATUS Realized

DATE 4Q2020

Strategic investment in Encore Renewable Energy, a developer of solar photovoltaic and battery storage projects in the Northeast

View open positions

FUND GDEV I

SECTOR Solar, Floating Solar

STATUS Unrealized

DATE 1Q2022

Strategic investment in Noria Energy, a California-based developer of behind-the-meter floating and ground-mounted solar projects

View open positions

FUND GDEV I

SECTOR Solar

STATUS Unrealized

DATE 4Q2020

Strategic investment in OYA Solar, a developer of community solar projects focused on New York

View open positions

FUND GDEV I

SECTOR Energy efficiency, microgrids

STATUS Unrealized

DATE 3Q2022

Strategic investment in Renew Energy Partners, a distributed generation, microgrid, and energy efficiency company helping companies across the US

View open positions

FUND GDEV II

SECTOR Electric Fleets

STATUS Unrealized

DATE 4Q2022

Strategic Investment in Revolv Global Inc. a company focused on transitioning conventional corporate small and medium sized fleets to electric

FUND GDEV I

SECTOR Storage, battery storage

STATUS Unrealized

DATE 2Q2022

Strategic investment in Sunrock Distributed Generation, a developer, owner and finance partner for commercial solar and storage projects across the US

View open positions

FUND GDEV II

SECTOR Solar, Battery Storage

STATUS Unrealized

DATE 4Q2022

Strategic investment in Sunstone Credit Inc., a solar loan financing platform focused on small- and medium-sized businesses across the U.S.

View open positions

FUND GDEV I

SECTOR Battery Storage, Virtual Power Plants

STATUS Partially Realized

DATE 3Q2022

Strategic investment in Swell Energy, Inc., a developer and operator of battery-based virtual power plants focused on high-value markets across the U.S.

View open positions

FUND GDEV II

SECTOR Solar, Battery Storage, EV Charging

STATUS Unrealized

DATE 3Q2023

Strategic investment in Telyon, a developer of solar, battery storage, and EV charging projects located on commercial and industrial sites across the US

View open positions

FUND GDEV II

SECTOR Battery Storage, Multi-Asset Optimization

STATUS Unrealized

DATE 2Q2023

Strategic investment in Peak Power, Inc., a battery storage developer and a multi-asset software platform focused on commercial & industrial customers across the US and Canada

View open positions

FUND GDEV II

SECTOR EV Charging

STATUS Unrealized

DATE 2Q2024

Strategic investment in 3V Infrastructure, a developer, owner, and operator of level-2 EV charging projects located at long-dwell locations across the US.

FUND GDEV II

SECTOR Waste-to-Value, Biofuels

STATUS Unrealized

DATE 2Q2023

Strategic investment in Nexus PMG, an industry-leading advisor to low-carbon infrastructure investors and a developer and owner of waste-to-value projects across north America, including renewable natural gas and sustainable fuel projects

GDEV PORTFOLIO ACTIVITY

More GCM Updates

Greenbacker Capital Announces Strategic Investment in Owner-Operator of Northeastern Hydroelectric Facilities, Dichotomy Power

By GCM | December 9, 2020

Encore Renewable Energy to Expand Renewable Energy Work with Commitment from Greenbacker Development Opportunities Fund

By GCM | November 19, 2020

Chaberton Energy Announces Investment from Greenbacker Development Opportunities Fund to Provide Development Capital for Renewable Energy Projects in the U.S. Mid-Atlantic

By GCM | November 11, 2020

« Previous
1
…
3
4
5