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To be led by former Blackstone executive Kush Patel

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Shift to low-carbon economy 'at an inflection point'

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Latest private equity house to invest more in transition

By Pablo Mayo Cerqueiro

LONDON, March 6 (Reuters) - Permira is putting together

a dedicated investment team to focus on the transition to a low

carbon economy, the private equity group said, as alternative

asset managers look to capitalise on the global shift to a

greener future.

The team will be led by former Blackstone executive

Kush Patel, who joined last year in New York, and a yet-to-be

named hire in London.

"We believe the climate transition is an exceptional global

growth opportunity and is at an inflection point ... it

represents a $12 trillion cumulative revenue opportunity by

2030," Patel said in a statement.

The team will invest globally in energy transition projects

and platforms, as well as related technology and services.

This includes areas such a renewable energy, the

decarbonisation of so-called hard-to-abate industries, and the

modernisation of energy grids.

"We have identified a need for capital to help accelerate

decarbonisation in the growth and buyout portion of the market

that sits between venture capital and infrastructure," Kurt

Björklund, managing partner at Permira, said.

While most climate-related investment to date has gone into

renewable energy projects, policymakers are increasingly keen to

ensure industries such as steel, cement, aviation and shipping

get the finance they need to reduce their emissions.

Permira's news comes just days after rival Carlyle

appointed Goldman Sachs' ( GS ) former head of commodities research

Jeff Currie to lead its energy transition analysis.

Energy-focused buyout firm ArcLight Capital Partners in

January launched a new unit to capitalise on transition

opportunities, while firms including KKR and Brookfield have

launched multibillion-dollar funds to profit from the move.

The need for an overhaul of much of the world's

infrastructure in the transition also underpinned BlackRock's ( BLK )

recent deal to buy Global Infrastructure Partners (GIP),

and General Atlantic's deal for Actis.