Palisade expands team prior to renewables fund launch

The open-ended structure's creation would come after the Aussie firm set up a A$1bn renewables platform alongside the Clean Energy Finance Corporation.

Palisade Investment Partners, the Sydney-based infrastructure fund manager, has hired Karen Gould and Michael Reynolds as investment managers in preparation for the launch of its Renewable Energy Fund (PREF). 

Roger Lloyd, managing director and chief executive of Palisade, told Infrastructure Investor that PREF would be an open-ended structure. Its official launch is still pending the finalisation of fund documents, he said.

Prior to joining Palisade, Gould was an associate director at Macquarie Group in London where she focused on principal investments and asset management in renewable energy projects. She was previously a director at the Australian Department of Climate Change and Energy Efficiency, where she developed aspects of Australia’s climate change and renewables policy, and was a lead negotiator at the international UN climate change summit.

On his part, Reynolds was most recently an investment director at Australian infrastructure investment manager CP2, where he was responsible for sourcing and investing in infrastructure investment opportunities and asset management. He was previously a vice-president at Deutsche Bank in the investment banking division, with a principal focus on the utilities and infrastructure sector. 

Palisade now counts a total of 18 investment executives, which work alongside its asset management division. In 2015, Palisade established Palisade Asset Management, which now consists of 14 executives managing gas transmission, renewables generation and agri-infrastructure assets. 

PREF targets mid-market renewables assets, including solar and wind projects. Its finalisation follows this April’s launch by Palisade of an A$1 billion ($763 million; €677 million) renewable strategy with the Clean Energy Finance Corporation, Australia’s renewables financier. 

Palisade is committing up to A$400 million to the venture through a combination of managed funds and direct investment mandates, while CEFC is providing A$100 million.