North Sky Capital has named Patrick Kay as a principal and Ryan Fraser as a vice president. Previously, Kay was a senior director at BlueWave Solar while Fraser worked in a senior role at Archer Venture Capital. Kay is based in the Boston office and Fraser is working in the Minneapolis office.
April 23, 2020. Minneapolis, MN – North Sky Capital (“North Sky”) is pleased to announce that Patrick Kay and Ryan Fraser have joined the firm. Pat is a Principal in the Boston office. Ryan is a Vice President in the Minneapolis office. “We are excited to welcome Pat and Ryan to our investment team,” said Scott Barrington, North Sky’s Chief Executive Officer. “Pat is joining our sustainable infrastructure team, which is playing a vital role of creating jobs, often in low income areas, and accelerating the transition to a clean energy future. Ryan is joining our impact secondaries team, which is providing liquidity to private equity funds, their portfolio companies and their investors during this economic dislocation. Their collective experience strategically enhances our new investment capability at this unique moment when we are seeing such tremendous opportunity in the marketplace.”
Prior to joining North Sky, Pat was a Senior Director at BlueWave Solar, a Boston-based solar development firm, where he led development activities on more than 30 solar-plus-storage projects in Massachusetts. Previously, he was a Director on the Corporate Finance team at SunEdison, the global renewable power company, where he managed the financial planning and analysis for approximately 8 gigawatts (“GW”) of wind and solar assets in North America, as well as the sale of more than 500 solar projects. Before moving into these operating roles, Pat was a Vice President at Tenaska Capital Management, the Omaha-based energy-focused private equity firm, where he managed investments across the power generation and energy midstream sectors. Earlier in his career, he was also involved with various real estate and infrastructure projects at Alexandria Real Estate Equities and Navigant Consulting. “Pat brings nearly 20 years of relevant experience as an investor and developer,” says Adam Bernstein, Managing Director. “We believe he will be a superb addition to our infrastructure team, helping to create value in our existing portfolios and to source and execute new investments.”
Since 2010, North Sky’s sustainable infrastructure funds have invested approximately $550 million across 29 infrastructure investments, which total 2.7 GW of anticipated generating capacity and approximately 2 million hours of high-quality construction jobs. Most recently, North Sky began to focus its attention on Opportunity Zones, which are low income areas identified by state governors in order to attract long-term investment capital under the Tax Cuts and Jobs Act of 2017.
Prior to joining North Sky, Ryan played a senior role at Archer Venture Capital, a Los Angeles-based venture capital firm, where he sourced and executed direct secondary transactions in venture-backed companies. Previously, Ryan was at SightLine Partners, a Minneapolis-based venture capital firm that specializes in direct secondary investments in venture-backed life sciences companies.
“Ryan brings incredible insights and execution capability to the team and our timing couldn’t be better given the opportunities we are uncovering today,” says Mike Pohlen, Managing Director. “I know our investors will benefit from Ryan’s experience in venture capital and secondary investing.”
Since 2013, North Sky has committed approximately $250 million across 50 secondary transactions. Late last year, North Sky raised $220 million for its third impact secondaries fund. The fund is focused on providing liquidity to impact-oriented private equity funds, their portfolio companies and investors globally.
About North Sky Capital: North Sky is a registered investment adviser with $1.4 billion in committed capital across its various funds. North Sky was established in 2000 and is based in Minneapolis, with offices in Boston and New York. North Sky is a leader in impact investing in private markets with a focus on impact private equity and sustainable infrastructure. For more information, visit www.northskycapital.com.