Energy Impact Partners (EIP) announced that it has established a credit group to support U.S.-based small and middle-market businesses, with a specific focus on energy impact-related investments. The group will primarily offer debt financing solutions, such as first and second lien secured term loans and unsecured debt – leveraging EIP’s existing infrastructure, expertise in equity investing, and utility partner network to broaden the firm’s financial solution offerings.
In conjunction with this news, EIP announced the hiring of Harry Giovani as a Managing Partner, and Greg Richards, CFA, as Managing Director, responsible for overseeing the credit group. The two will focus on deal sourcing and execution, as well as portfolio monitoring and operations.
Harry Giovani has more than two decades of investment management and commercial finance experience, developing strong investment strategies and processes in prior roles. Before joining EIP, Mr. Giovani was co-founder, Senior Managing Director, Chief Credit Officer and member of all investment committees of CION Investment Group, a leading investment manager for funds providing alternative financing to companies in asset-intensive industries, as well as a $1.5 billion business development company called CION Investment Corporation. He holds a Bachelor’s degree in Finance from Cornell University.
Greg Richards has more than 13 years of experience in middle market private investing, investment banking and lending. Previously, Mr. Richards was a senior investment professional at Medley Capital, where he sourced, underwrote and executed middle-market private investment transactions. He holds an MBA from Columbia Business School and a BBA in Finance from the College of William & Mary.
“Adding this credit capability helps us meet the needs of our portfolio companies,” said EIP CEO and Managing Partner Hans Kobler. “At EIP, we encounter companies at all stages of development. Now we have a lending group to support later-stage firms trying to facilitate growth, as well as two highly experienced people to run the program. We are honored to welcome Harry and Greg to the EIP team.”
EIP is a private equity firm that strategically invests in innovative technologies, services, and products throughout the electricity supply chain from generation to consumption. The EIP portfolio includes companies like Opus One Solutions, which gives full visibility and control to electric distribution utilities; Sense Labs, which enables customers to accurately measure energy consumption on every device in their homes; AutoGrid Systems, which offers big data analytics and cloud computing solutions for electric utilities; SparkFund, an origination and financing platform that provides energy efficiency “as a service”; and most recently Enchanted Rock, a microgrid operator that supplies customers with natural gas backup power systems that are simultaneously used to perform grid services.
Energy Impact Partners | http://www.energyimpactpartners.com