US sustainable-investment company Vision Ridge Partners has put a new managing director in place as it seeks to develop its energy and transport operations.
Paul Luce has been brought in from Partners Group, where he was a senior investment leader on the private infrastructure investment team.
Described as a "seasoned private equity investor" across the sustainable real asset and infrastructure sectors, Luce will be responsible for sourcing and leading investments across sectors.
Based in Boulder, Colorado, he will report to Vision Ridge co-founder and managing partner Reuben Munger.
Vision Ridge made its first shipping investment in 2019 by supporting the Saevik family's ferry company Fjord1 as it took delivery of 32 new hybrid ferries.
Active growth for Vision Ridge
Munger told TradeWinds last month that his group is looking at how to expand Fjord1's business and use its expertise in other shipping markets.
The new appointment comes during a period of active growth for Vision Ridge.
At the end of September, the company said it was pumping an initial $100m into Vision RNG, a venture which develops and operates landfill gas infrastructure to capture and process this gas into sustainable renewable natural gas assets.
Earlier this year Vision Ridge closed its third sustainable asset fund worth $1.25bn.
"We are thrilled to welcome Paul to the Vision Ridge team," Munger said.
"His significant experience and strong track record of investing across power generation, energy infrastructure, mobility and utility services will be invaluable as we seek to identify and scale unique investment opportunities."
Experienced investor
Luce said he had deep admiration for Vision Ridge and is excited to join.
The new recruit has previously served on the boards of Arcanum Infrastructure, EnfraGen and Sentinel Energy Center.
Founder Munger was later joined by partners Justin Goerke and George Polk at Vision Ridge to manage $2.5bn of assets.
The company now has a 50% stake in Fjord1, with the Saeviks owning the rest.
The two partners brought in Allianz Global Partners to fund the ownership restructuring in a $340m deal in August.
