Actis has made Barry Lynch a partner at its London headquarters as the emerging market specialist investor continues to raise its inaugural infrastructure fund.
Lynch will continue to help Actis provide operational improvements to the firm’s portfolio of clean energy and power projects spread throughout Latin America, Africa and Southeast Asia, according to a source familiar with the move.
He joined the firm in 2016 after working for eight years at Mainstream Renewable Power, a clean energy firm that has partnered with Actis to develop a number of projects in emerging markets. At Mainstream, Lynch sat on the board of Aela Energia and Lekela Power, two Actis energy portfolio companies in which Mainstream is a minority partner.
He also worked closely with Globeleq, a former Actis portfolio company which has sealed a number of partnerships with Mainstream, including joint development of renewable energy projects in South Africa. Prior to joining Mainstream, Lynch spent eight years at engineering consultant firm ESB International.
Replacing Lynch in his role as operations director of Actis’ energy and infrastructure group is Ralf Nowack, who the firm hired from London-based power generation company Contour Global.
The firm is known to be raising the Actis Long Life Infrastructure Fund, which has a target of $2 billion and will invest in operating power assets, instead of the greenfield or developing projects its earlier funds have targeted. Actis was reportedly nearing a first close of more than $700 million in May but it is unclear whether a first close was held. A spokesman for the firm declined to comment.
Last year, through its Actis Energy 4 fund, the firm made its largest deal to date, acquiring InterGen’s Mexican gas portfolio for $1.3 billion, which became its third platform in the country, following previous investments in two renewables platforms.