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SDCL
SDCL is a leading developer, investor and fund manager focused on energy efficiency and decarbonisation. Its Investment Banking Group provides independent...
Overview
SDCL is a leading developer, investor and fund manager focused on energy efficiency and decarbonisation. Its Investment Banking Group provides independent strategic financial advice across complex mandates within the energy, water, and waste sectors, including acquisitions, mergers, joint ventures, minority investments, divestitures and private placements.
General information
Firm type
Generalist
Year founded
2007
Location
Region
Europe
Country
United Kingdom
City
New York
Corporate office
1 Great Cumberland Place, London, England, W1H 7AL, United Kingdom
Additional offices
New York · Dublin · Hong Kong · Singapore
Principals
Jonathan Maxwell
CEO & Founder
Purvi Sapre
CIO
Eugene Kinghorn
Group CFO
Sarah Miraj
Group CCO
Keith Pedder
Group COO
Sector focus
Frequently asked questions
Who runs investment decisions at SDCL?
Purvi Sapre is the Chief Investment Officer. Founder and CEO Jonathan Maxwell sets the strategic direction, but Sapre oversees investment execution. The firm also maintains a network of senior advisors, including Michael Liebrich, founder of BloombergNEF, who contributes to investment thinking.
How does SDCL source its infrastructure deals?
SDCL originates directly — it does not act primarily as a fund-of-funds or rely on auctions. The firm develops projects from concept through operations, building on-site energy assets for commercial and industrial energy users such as data centers, hospitals, and manufacturers. This in-house development capability is core to its sourcing model.
What investment vehicles does SDCL manage?
SDCL manages two core vehicles with distinct mandates. SEIT (SDCL Efficiency Income Trust) targets energy efficiency assets. GETF (Green Energy Transformation Fund) invests in on-site renewable energy and efficiency projects. Both vehicles are supported by dedicated investment and portfolio management teams spread across London, Dublin, and New York.
Which sectors does SDCL explicitly avoid?
SDCL does not invest broadly across the energy transition. It avoids utility-scale generation, transmission, and fossil fuel infrastructure. The firm remains strictly focused on efficient and decentralized generation of energy — on-site solutions for commercial and industrial users — and does not compete with large-scale renewable developers.
What is SDCL's known posture on co-investments alongside external GPs?
SDCL runs its own direct investment programs and has not widely offered co-investment slots to external institutional LPs. Its model is self-originated and self-managed, which tends to limit co-investment opportunities to strategic partnerships like the Mayoral London fund or joint investments with firms such as CARBONAMS.
Where does the initial capital for SDCL come from?
SDCL was founded by Jonathan Maxwell in 2007. The source of its founding capital has not been publicly disclosed. Today the firm raises capital from institutional investors and, since June 2024, counts General Atlantic's BeyondNetZero Fund as a minority shareholder.
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