Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings chats with Reuben Munger of Vision Ridge Partners about the intersection of Private Equity and sustainable investments, focusing on the electric transportation revolution. Munger, a pioneer in sustainable real assets, shares insights into transitioning from hedge funds to Private Equity with a sustainability lens, and the impact of electric vehicles and infrastructure on the environment and investment returns. Dive into this engaging discussion on how Vision Ridge Partners is leading the charge in sustainable investments, shaping a greener future through strategic, impactful projects. Breakdown: [00:00] Definition and focus on Vision Ridge Partners’ approach to investing in sustainable real assets. [00:15] Discussion on building and owning charging systems, operating electric fleets, and the firm's role in sustainable investing. [00:43] Insight into the focus on vehicle electrification, niche specialization in private equity, and the broad appeal of narrowing focus. [01:09] Munger shares his journey from the hedge fund industry to private equity focusing on sustainability, managing over $3 billion across various sectors. [01:39] Munger discusses the motivation behind the shift and the value of active ownership and sector-specific knowledge in private equity. [03:02] Discussion on the need for infrastructure and real assets to become more sustainable, focusing on efficiency and lower resource intensity. [04:29] Vision Ridge’s approach to investing in assets with a sustainable edge and the transition from "gray to green." [06:40] How sustainability shapes Vision Ridge's investment strategy and decision-making process. [07:39] Differences in sustainability mindsets between Europe and North America and how it affects investment strategies. [10:05] Discussing unexpected opportunities and challenges in portfolio companies, emphasizing agility and innovation. [11:55] How Vision Ridge’s focused approach has benefited the firm in terms of differentiation, expertise, and deal flow. [16:18] Discussion on electrification in the transportation sector, including commercial vehicles and the impact on sustainability. [21:38] Alex Rawlings mentions Raw Selection's role in private equity executive search and salary surveys. [22:08] Insights into the transition towards electric ferries and the challenges of electrifying longer maritime routes. [23:59] Exploration of competition and collaboration in the electrification of commercial vehicles. [25:55] Munger shares his recommendations for podcasts, books, and resources that inspire him in the field of sustainable investing. [28:51] Closing remarks and how to contact Reuben Munger for further discussion on sustainable real assets and electrification. You can connect with Reuben Munger on LinkedIn by visiting his LinkedIn Page. Thank you for tuning in! To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here. Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to [email protected].