BlackRock, Temasek staff up their Decarbonization Partners business

Jan 27, 2022 | News

Meghan Sharp was named managing director and global head of Decarbonization Partners, the investment partnership between BlackRock and Temasek Holdings, Singapore’s state investment arm, according to an internal BlackRock memo provided to Pensions & Investments.

Ms. Sharp will join Decarbonization Partners in February, said a BlackRock spokesman in an email. She will be based in San Francisco.

Ms. Sharp was global head of BP Ventures, the global corporate venture arm of BP, where her team invested in opportunities in the decarbonization sector, the memo said.

A BP spokeswoman did not immediately respond to a request for information about Ms. Sharp’s replacement.

The Decarbonization Partnership was launched in April 2021 by BlackRock and Temasek to create late-stage venture capital and early growth private equity investment funds.

“We have spent the past several months building a strong foundation for this new capability that will that will invest in the next generation of innovative solutions and businesses to accelerate global efforts to achieve a net-zero economy by 2050,” the memo said.

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In addition, London-based Teresa O’Flynn, a BlackRock managing director, was named a senior investor for Decarbonization Partners, said the BlackRock spokesman.

As a founding member of the team, Ms. O’Flynn has led the development of Decarbonization Partners since its launch, the memo said.

Previously, Ms. O’Flynn was global head of sustainable investing within BlackRock Alternative Investors and was replaced by Kristen Weldon in October, as reported by P&I.

Ms. Weldon was head of environmental, social and governance and impact investing at Partners Capital.

Ian Kitchenham recently joined the decarbonization team as a director. He is based in London. Previously, he was chief operating officer and head of strategy, Asia Pacific, for BlackRock Global Credit, the memo said.

BlackRock and Temasek intended to commit a combined $600m in initial capital to invest in multiple funds launched by the partnership. The funds will also raise third-party capital from investors who are committed to achieving a net zero world while also seeking to obtain long-term sustainable financial returns. Decarbonization Partners has a fundraising target of $1bn for its first fund, including capital from Temasek and BlackRock.

Source: Pensions & Investments

 

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