LS Power Equity Advisors

LS Power Equity Advisors

LS Power Equity Advisors was established in 1991 as the private equity investment arm of LS Power, a North American power generation and energy infrastructure company founded by Michael Segal and David Tabors. The firm invests across the capital structure, targeting control and minority positions in power and energy companies. Its strategy spans development-stage and operating assets in natural gas, renewable energy (solar, wind), energy storage, and transmission. The firm has backed portfolio companies such as LS Power's own development projects and acquired platforms like EVgo (electric vehicle charging, per SEC filings). Geographic focus is solely North America, primarily the United States, with some Canadian exposure. The broader LS Power group has raised over $35 billion in debt and equity capital since inception. The equity advisory arm itself discloses no separate AUM figure. The firm operates from New York City with an additional office in St. Louis. Associated philanthropic vehicles are not publicly named. The structural differentiator is the integrated model: LS Power Equity Advisors sits within an independent power producer (IPP) platform that both develops and owns physical assets, giving it a sourcing advantage in infrastructure deals that pure financial sponsors cannot match. Governance follows the managing partner structure, with Segal controlling investment decisions.