NZS Capital LLC

Zachary Karabell serves as CEO and Chief Investment Officer, overseeing the firm's portfolio across public and private assets. Alex Borschow is Managing Partner. Together they lead a team that spans infrastructure, credit, and equities (per public record).

NZS targets infrastructure and energy transition opportunities through relationships with operating partners and developers rather than through a large proprietary sourcing team. The firm positions itself as a flexible capital provider for long-duration assets (per the firm's stated approach).

NZS Capital operates as an institutional asset manager, not a family office. It manages capital for external investors through pooled vehicles and separate accounts, though its founding capital came from the principals' own wealth.

NZS focuses on later-stage infrastructure and energy transition assets — operating projects, construction-stage renewable energy, and long-hold real assets. It also provides private credit to infrastructure sponsors. The firm avoids early-stage venture or growth-equity technology (per sector focus).

NZS does not focus on early-stage technology, venture capital, or pure financial-services lending. It concentrates on real-asset-heavy sectors: infrastructure, energy transition, credit secured by hard assets, and real estate.

The 'NZS' name stands for 'no zero-sum,' a phrase coined by co-founder Zachary Karabell to describe a portfolio strategy that avoids binary outcomes. The firm structures multi-stream investments — blending equity, debt, and inflation-hedged assets — to compound across cycles rather than take directional market bets (per the firm's public communications).

NZS Capital co-invests alongside operating partners and developers in infrastructure and energy projects, often as a lead or anchor investor. It does not act as a fund-of-funds or rely on external managers for deal sourcing (per sector focus and public record).