Thursday, March 27, 2008

Credit Suisse to Make Strategic Investment in Renewable Energy Sector Through Hudson Clean Energy Partners

Credit Suisse to Make Strategic Investment in Renewable Energy Sector Through Hudson Clean Energy Partners
John Cavalier, Top Alternative Energy Banker, to Join Hudson from Credit Suisse

NEW YORK--March 27 2008 --Hudson Clean Energy Partners and Credit Suisse announced today that they have reached an agreement in principle whereby Credit Suisse, together with its clients and affiliates, will commit at least USD 300 million to make principal investments in the renewable energy sector through Hudson. As part of this, John Cavalier, Head of Credit Suisse’s Renewable Energy investment banking practice, will join Hudson as a Partner. In his new capacity, Mr. Cavalier will join Neil Auerbach, Hudson’s founder, as Co-Managing Partner of the investment platform. Mr. Cavalier was formerly Chairman of the Energy Group and Vice Chairman of Investment Banking Department Americas within Credit Suisse’s Investment Banking division. Under the leadership of Mr. Cavalier, Credit Suisse’s Alternative Renewable Energy investment banking practice has become Wall Street’s leading clean energy franchise.

Prior to founding Hudson, Mr. Auerbach was a Partner at Goldman Sachs, where he created and led Goldman’s U.S. Alternative Energy investment business and managed over USD 3 billion in assets for the firm. Auerbach launched Hudson with Daniel Gross and Joseph Slamm, former Goldman colleagues from the U.S. Alternative Energy investment business who are also Partners at Hudson.

Mr. Cavalier said, “Credit Suisse has been looking to invest its own capital in renewable energy for a long time, and the firm has been supportive of my desire to transition from investment banking to principal investing in the sector. We were highly selective in searching for the right team. Hudson’s principals have an unparalleled track record of successfully backing the leading companies in the industry. I am highly confident that Hudson will become the premier private equity firm in the clean energy sector for years to come.”

Mr. Auerbach said, “We are thrilled to receive such a resounding endorsement through this investment from the leading investment bank in the industry, and I am delighted that John Cavalier has decided to join me in managing the firm. As the leading banker in the renewable energy industry, John brings a wealth of experience and relationships to Hudson that will accelerate our ability to identify and create the best investment opportunities and deliver outstanding investment returns to our limited partners. Our strategic relationship with Credit Suisse promises to be hugely accretive to Hudson. We have already begun to see their impressive pipeline of deal flow.”

Brian Finn, Chairman of Alternative Investments at Credit Suisse, said, “We are excited about making this strategic investment in Hudson and believe there is a real untapped opportunity in this attractive asset class. The Hudson team brings deep industry experience and an extraordinary investment track record. Offering Hudson Credit Suisse’s expertise in developed and emerging markets, alternative investments, and renewable energy investment banking, as well as deal flow, adds a significant dimension.”

This statement does not constitute an offer of sale, or a solicitation of investors or purchasers, in respect of the securities of any person in any jurisdiction.

About Hudson Clean Energy Partners

Hudson Clean Energy Partners is a private equity firm that invests in the dynamic and fast-growing clean energy market. Hudson invests in companies focused on renewable power, alternative fuels, energy storage and demand-side energy management. Hudson’s investment strategy focuses on high-growth, asset-based, capital-intensive segments of the clean energy value chain using commercialized technologies to extract energy from wind, solar, geothermal, biomass and other renewable sources. Further information about Hudson can be found at

About Credit Suisse

Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at

Asset Management

In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as private equity, real estate, hedge funds, and volatility management. Credit Suisse’s Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.

The Asset Management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management products and services may not be available in all jurisdictions or to all client types.

Credit Suisse Alternative Investments (“CSAI”) is a leading global alternative asset manager involved in private equity, hedge funds and related activities. The CSAI businesses include Funds and Alternative Solutions, Leveraged Investments, Quantitative Strategies, and Volaris as well as a diverse family of private equity funds, including leveraged buyout funds, mezzanine funds, core and opportunity real estate funds, secondary funds and private equity fund of fund businesses. With over $155 billion in managed assets and exceptional investment performance, Credit Suisse is one of the world's largest and most successful managers of alternatives. CS AI is also the world's leading placement agent in alternative assets, raising capital for third-party managers through its Private Fund Group and Real Estate Private Fund Group. The CS AI businesses have more than a 20-year history of strong investment performance, with leading market share positions.

Contact:HudsonNeil Auerbach, +1-201-287-4100neil.auerbach@hudsoncep.comorCredit SuisseSuzanne Fleming,

Source: Credit Suisse

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