We are
Specialists in
Energy
Transition
Susten manages both private green investments and a listed equity energy transition portfolio, so our clients benefit from our deep knowledge of all stages in a company’s growth cycle.
We are
Specialists
in Energy
Susten manages both private green investments and a listed equity energy transition portfolio, so that our clients benefit from our deep knowledge of all stages in a company’s growth cycle.
Transition
[ QUOTE ]
INVENTOR
11 Feb 1847-1931
Thomas Edison
“We are like tenant farmers chopping down the fence around our house for fuel when we should be using Nature's inexhaustible sources of energy — sun, wind, and tide. ... I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that.”
MISSION
We dedicate our expertise, passion, and capital to achieve high returns for our clients by investing into the Energy Transition leading companies of the future.
We aim to address the climate challenge at scale, by deploying capital from investors seeking profit with purpose.
VISION
The world’s energy is transitioning.
We help our clients play an active role in this change so we can achieve a more sustainable future.
We help our clients play an active role in this change so we can achieve a more sustainable future.
VALUES
We operate under a shared belief that climate change is one of the most pressing problems facing the world today.
The Energy sector is transforming, challenges to sustainable living are growing and our team is evolving. Our values and commitment to our clients remains constant.
We are driven by
LOVE
Our love for the science and technology in the Energy sector
[01]
RESPONSIBILITY
Our responsibility to ourselves, our colleagues, our environment
[03]
EXPERIENCE
Our experience in building long standing client relationships
[02]
HISTORY
The idea of Susten was formed in 2018, when we began investing in early-stage, energy transition related businesses in Europe.
However, many of us have worked together since the early 2000’s.
However, many of us have worked together since the early 2000’s.
In 2003, David Herne created an investment management firm, Halcyon, which became a highly regarded fund manager specialising in the utility sector in Eastern Europe.
By 2021 Halycon was managing over 700m on behalf of institutional investors including one of the world’s largest sovereign wealth funds, US university endowments and other asset allocators.
Creating an environment that encourages personal initiative and fosters the love for science, the company enabled individuals to follow their passion for climate related projects and become actively involved in managing green assets, putting their knowledge and skillset into work to support a great cause.
Dr Ilya Brodsky headed a team whose activities included building a wind farm, building a district heating company, and investing in a biogas engineering firm.
From 2018, the team concentrated on new investments in Europe and in 2021 Ilya spun out Susten, a UK based company, dedicated to energy transition projects in the UK and Eurozone.
While Ilya was running private investments, Alexey Klaptsov, one of Halcyon’s senior PMs, pursued his aspiration to create and manage a listed equity fund dedicated to European companies in the energy transition space.
In 2022, David and Alexey also left Halcyon to join Susten. As a result, we created an investment company where clients can benefit from our holistic understanding of the sector across both private equity and listed markets.
By 2021 Halycon was managing over 700m on behalf of institutional investors including one of the world’s largest sovereign wealth funds, US university endowments and other asset allocators.
Creating an environment that encourages personal initiative and fosters the love for science, the company enabled individuals to follow their passion for climate related projects and become actively involved in managing green assets, putting their knowledge and skillset into work to support a great cause.
Dr Ilya Brodsky headed a team whose activities included building a wind farm, building a district heating company, and investing in a biogas engineering firm.
From 2018, the team concentrated on new investments in Europe and in 2021 Ilya spun out Susten, a UK based company, dedicated to energy transition projects in the UK and Eurozone.
While Ilya was running private investments, Alexey Klaptsov, one of Halcyon’s senior PMs, pursued his aspiration to create and manage a listed equity fund dedicated to European companies in the energy transition space.
In 2022, David and Alexey also left Halcyon to join Susten. As a result, we created an investment company where clients can benefit from our holistic understanding of the sector across both private equity and listed markets.
ABOUT HALCYON
Halcyon still exists today, although we are no longer connected to it.
Halcyon manages a distressed securities fund investing into Russia, Ukraine and neighbouring countries on behalf of Western institutions. We were shocked and saddened by the Russian Government’s aggression. Much as we respect the country and people, the team of Susten chose not to maintain any connection, no matter how tenuous, with Russia for as long as it remains under the current regime.
Halcyon manages a distressed securities fund investing into Russia, Ukraine and neighbouring countries on behalf of Western institutions. We were shocked and saddened by the Russian Government’s aggression. Much as we respect the country and people, the team of Susten chose not to maintain any connection, no matter how tenuous, with Russia for as long as it remains under the current regime.
The Energy sector is transforming, challenges to sustainable living are growing and our team is evolving.
Our values and commitment to our clients remains constant.
NAME
Susten is a contraction of sustainable energy and, by happy coincidence, it is also the name of a lovely pass in central Switzerland.
SUSTEN
Susten Pass (el. 2260 m.) is a mountain pass in the Swiss Alps. The pass road, built from 1938–1945, connects Innertkirchen in the canton of Bern with Wassen in the canton of Uri. A 300-metre long tunnel crosses the pass at 2,224 metres.
TEAM
The core investment team has a background in Physics and Chemistry and a desire to make a positive impact on the world.
dedicated
Private equity team
Private equity team
dedicated
listed equity team
listed equity team
[03]
general team
[02]
[01]
ILYA BRODSKY, PhD
PARTNER
PARTNER
• Joined Halcyon as an analyst in 2005, and headed private equity team focusing on the power sector and energy transition since 2010;
• In 2021, spun-out Susten to concentrate on energy transition projects in UK and EU;
• Previous BoD member of various companies including a green developer, wind turbine manufacturer, district heating company, municipal electric grids, power service company;
• PhD in theoretical physics from P.L. Kaptitza institute for Physical Problems;
• Studied economics at the American Institute for Business and Economy; Ilya is passionate about Data science and Statistics.
• In 2021, spun-out Susten to concentrate on energy transition projects in UK and EU;
• Previous BoD member of various companies including a green developer, wind turbine manufacturer, district heating company, municipal electric grids, power service company;
• PhD in theoretical physics from P.L. Kaptitza institute for Physical Problems;
• Studied economics at the American Institute for Business and Economy; Ilya is passionate about Data science and Statistics.
DAVID HERNE
Partner
Partner
- Founder of investment management company Halcyon (2003) which by 2001 managed assets close to USD 1 billion valuation. David left Halcyon in 2022 to join Susten;
- Previously held senior roles at Brunswick Capital Management, Unifund; Credit Suisse Boston Consulting Group;
- Holds a BA from Harvard University;
- Lived in Los Angeles, Boston and London;
- Love mountains, the ocean, physical activity, intellectual excitement!
ALEXEY KLAPTSOV, PhD
Partner
Partner
• Worked at Halcyon from 2005-2021 - Responsible for co-managing funds, trading and research;
• Graduated in 2001 from the National Research Nuclear University MEPhI with an MSc in Theoretical Physics;
• From 2001-2005 Alexey worked on his PhD in Condensed Matter Physics at the National Research Centre;
• Loves Chinese language and culture, all science related matters but he’s particularly passionate about physics.
• Graduated in 2001 from the National Research Nuclear University MEPhI with an MSc in Theoretical Physics;
• From 2001-2005 Alexey worked on his PhD in Condensed Matter Physics at the National Research Centre;
• Loves Chinese language and culture, all science related matters but he’s particularly passionate about physics.
JOHN MARROW
PARTNER
PARTNER
• 35 years of experience in strategy consulting, VCPE, fund management and advisory, and start-ups – across energy, technology, environment and sustainability;
• Experienced company builder, as founder, manager and investor – taken companies to both IPO and trade sale;
• Built extensive investment experience in start-ups using technology and innovation to accelerate the transition to a low-carbon future. Invested in over 30 start-ups companies;
• Experienced non-executive director and board-level adviser – providing governance, strategic input and support for scaling
• Ex-Big 4 and bp Ventures;
• Former expert panellist on the Global Cleantech 100;
• Enjoys working on the big problems that deep science-based technologies aim to solve.
• Experienced company builder, as founder, manager and investor – taken companies to both IPO and trade sale;
• Built extensive investment experience in start-ups using technology and innovation to accelerate the transition to a low-carbon future. Invested in over 30 start-ups companies;
• Experienced non-executive director and board-level adviser – providing governance, strategic input and support for scaling
• Ex-Big 4 and bp Ventures;
• Former expert panellist on the Global Cleantech 100;
• Enjoys working on the big problems that deep science-based technologies aim to solve.
cHRYS VAKLA
PARTNER
PARTNER
• 20 years in Finance in both Investment Banking and Wealth Management having worked in RBC, Credit Suisse, Citi and Deutsche Bank;
• In her career, Chrys has been advising Hedge Funds, Private Equity Partners, and Private investors in areas such as investment portfolios, wealth structuring and financing;
• 10 years in Prime Services helping Hedge Funds grow providing Capital Introductions and originating new business for the bank;
• Chair of the Angel Investor committee of the Hellenic Tech Network in the UK;
• Passionate about entrepreneurship, community work and mentorship.
• In her career, Chrys has been advising Hedge Funds, Private Equity Partners, and Private investors in areas such as investment portfolios, wealth structuring and financing;
• 10 years in Prime Services helping Hedge Funds grow providing Capital Introductions and originating new business for the bank;
• Chair of the Angel Investor committee of the Hellenic Tech Network in the UK;
• Passionate about entrepreneurship, community work and mentorship.
ROLF HELBLING
strategic advisor - research
strategic advisor - research
• A co founder of Carnot Capital, (Carnot Efficient Energy Fund generated 215% since inception in 2009);
• Previously led the Industry and Telecom Research team of BZ Bank;
• Also worked in the private equity team of Bank Vontobel and corporate banking in Citibank in Zurich and New York;
• Graduated in economics from the University of St Gallen.
• Previously led the Industry and Telecom Research team of BZ Bank;
• Also worked in the private equity team of Bank Vontobel and corporate banking in Citibank in Zurich and New York;
• Graduated in economics from the University of St Gallen.
NINA BUDAZHAPOVA
PARTNER
PARTNER
* Intellectual volunteer for the Lake Baikal Foundation;
* Previously worked at PricewaterhouseCoopers - advised medium and large companies on international tax planning and tax structuring of international transactions;
* A Chevening Fellow of the UK government;
* Holds MA in Environmental Technology from Imperial College London.
* Previously worked at PricewaterhouseCoopers - advised medium and large companies on international tax planning and tax structuring of international transactions;
* A Chevening Fellow of the UK government;
* Holds MA in Environmental Technology from Imperial College London.
NATALIA MERENKOVA
CFO
CFO
• Joined Halcyon in 2008 - Responsible for financial planning, managing financial risks and record-keeping of the group's accounts. She was also supervising all back-office operations;
• Prior worked for ING Bank (Eurasia) as an officer of client operations’ executive department.
• Natalia holds a specialist degree from the Plekhanov Russian Academy of Economics;
• Loves the sea and imposing order on chaos.
• Prior worked for ING Bank (Eurasia) as an officer of client operations’ executive department.
• Natalia holds a specialist degree from the Plekhanov Russian Academy of Economics;
• Loves the sea and imposing order on chaos.
DMITRII DANILOV
ANALYST
ANALYST
• Responsible for Sustainable Energy market research;
• Previously worked as an engineer in R&D Center;
• Holds Master’s degree in Fundamental and Applied Chemistry - Lomonosov Moscow State University and is currently a PhD student in Materials Science.
• Previously worked as an engineer in R&D Center;
• Holds Master’s degree in Fundamental and Applied Chemistry - Lomonosov Moscow State University and is currently a PhD student in Materials Science.
0
YANA ELBERT
IR
IR
• Joined Halcyon’s marketing and IR department at the beginning of 2021 - Responsible for client relations and digital marketing;
• Previosuly worked as a business development manager at Lime Consulting, and before that she was a marketing department intern at Sberbank and a PR department intern at RIAC;
• Yana has graduated from the Moscow State Institute of International Relations (MGIMO) and holds a BA in Governance and International Affairs. She also took part in an exchange programme between MGIMO and Princeton University;
• Lived in Amsterdam while studying in Conservatorium van Amsterdam (classical voice department).
• Previosuly worked as a business development manager at Lime Consulting, and before that she was a marketing department intern at Sberbank and a PR department intern at RIAC;
• Yana has graduated from the Moscow State Institute of International Relations (MGIMO) and holds a BA in Governance and International Affairs. She also took part in an exchange programme between MGIMO and Princeton University;
• Lived in Amsterdam while studying in Conservatorium van Amsterdam (classical voice department).
EKATERINA KAVUNETS
ANALYST
ANALYST
• Was an intern in Citibank (Treasury and Trade Solutions Department);
• Have won the scholarship to study International Finance in Rennes School of Business, France and finished the Double Bachelor Degree program with GPA of 4.93;
• Ekaterina holds BA of excellence in Finance and Credit from Plekhanov University of Economics.
• Have won the scholarship to study International Finance in Rennes School of Business, France and finished the Double Bachelor Degree program with GPA of 4.93;
• Ekaterina holds BA of excellence in Finance and Credit from Plekhanov University of Economics.
dedicated
Private equity team
Private equity team
[01]
ILYA BRODSKY, PhD
PARTNER
PARTNER
• Joined Halcyon as an analyst in 2005, and headed private equity team focusing on the power sector and energy transition since 2010;
• In 2021, spun-out Susten to concentrate on energy transition projects in UK and EU;
• Previous BoD member of various companies including a green developer, wind turbine manufacturer, district heating company, municipal electric grids, power service company;
• PhD in theoretical physics from P.L. Kaptitza institute for Physical Problems;
• Studied economics at the American Institute for Business and Economy; Ilya is passionate about Data science and Statistics.
• In 2021, spun-out Susten to concentrate on energy transition projects in UK and EU;
• Previous BoD member of various companies including a green developer, wind turbine manufacturer, district heating company, municipal electric grids, power service company;
• PhD in theoretical physics from P.L. Kaptitza institute for Physical Problems;
• Studied economics at the American Institute for Business and Economy; Ilya is passionate about Data science and Statistics.
JOHN MARROW
PARTNER
PARTNER
• 35 years of experience in strategy consulting, VCPE, fund management and advisory, and start-ups – across energy, technology, environment and sustainability;
• Experienced company builder, as founder, manager and investor – taken companies to both IPO and trade sale;
• Built extensive investment experience in start-ups using technology and innovation to accelerate the transition to a low-carbon future. Invested in over 30 start-ups companies;
• Experienced non-executive director and board-level adviser – providing governance, strategic input and support for scaling
• Ex-Big 4 and bp Ventures;
• Former expert panellist on the Global Cleantech 100;
• Enjoys working on the big problems that deep science-based technologies aim to solve.
• Experienced company builder, as founder, manager and investor – taken companies to both IPO and trade sale;
• Built extensive investment experience in start-ups using technology and innovation to accelerate the transition to a low-carbon future. Invested in over 30 start-ups companies;
• Experienced non-executive director and board-level adviser – providing governance, strategic input and support for scaling
• Ex-Big 4 and bp Ventures;
• Former expert panellist on the Global Cleantech 100;
• Enjoys working on the big problems that deep science-based technologies aim to solve.
NINA BUDAZHAPOVA
PARTNER
PARTNER
* Intellectual volunteer for the Lake Baikal Foundation;
* Previously worked at PricewaterhouseCoopers - advised medium and large companies on international tax planning and tax structuring of international transactions;
* A Chevening Fellow of the UK government;
* Holds MA in Environmental Technology from Imperial College London.
* Previously worked at PricewaterhouseCoopers - advised medium and large companies on international tax planning and tax structuring of international transactions;
* A Chevening Fellow of the UK government;
* Holds MA in Environmental Technology from Imperial College London.
general team
[02]
DAVID HERNE
Partner
Partner
- Founder of investment management company Halcyon (2003) which by 2001 managed assets close to USD 1 billion valuation. David left Halcyon in 2022 to join Susten;
- Previously held senior roles at Brunswick Capital Management, Unifund; Credit Suisse Boston Consulting Group;
- Holds a BA from Harvard University;
- Lived in Los Angeles, Boston and London;
- Love mountains, the ocean, physical activity, intellectual excitement!
CHRYS VAKLA
PARTNER
PARTNER
• 20 years in Finance in both Investment Banking and Wealth Management having worked in RBC, Credit Suisse, Citi and Deutsche Bank;
• In her career, Chrys has been advising Hedge Funds, Private Equity Partners, and Private investors in areas such as investment portfolios, wealth structuring and financing;
• 10 years in Prime Services helping Hedge Funds grow providing Capital Introductions and originating new business for the bank;
• Chair of the Angel Investor committee of the Hellenic Tech Network in the UK;
• Passionate about entrepreneurship, community work and mentorship.
• In her career, Chrys has been advising Hedge Funds, Private Equity Partners, and Private investors in areas such as investment portfolios, wealth structuring and financing;
• 10 years in Prime Services helping Hedge Funds grow providing Capital Introductions and originating new business for the bank;
• Chair of the Angel Investor committee of the Hellenic Tech Network in the UK;
• Passionate about entrepreneurship, community work and mentorship.
NATALIA MERENKOVA
CFO
CFO
• Joined Halcyon in 2008 - Responsible for financial planning, managing financial risks and record-keeping of the group's accounts. She was also supervising all back-office operations;
• Prior worked for ING Bank (Eurasia) as an officer of client operations’ executive department.
• Natalia holds a specialist degree from the Plekhanov Russian Academy of Economics;
• Loves the sea and imposing order on chaos.
• Prior worked for ING Bank (Eurasia) as an officer of client operations’ executive department.
• Natalia holds a specialist degree from the Plekhanov Russian Academy of Economics;
• Loves the sea and imposing order on chaos.
YANA ELBERT
IR
IR
• Joined Halcyon’s marketing and IR department at the beginning of 2021 - Responsible for client relations and digital marketing;
• Previosuly worked as a business development manager at Lime Consulting, and before that she was a marketing department intern at Sberbank and a PR department intern at RIAC;
• Yana has graduated from the Moscow State Institute of International Relations (MGIMO) and holds a BA in Governance and International Affairs. She also took part in an exchange programme between MGIMO and Princeton University;
• Lived in Amsterdam while studying in Conservatorium van Amsterdam (classical voice department).
• Previosuly worked as a business development manager at Lime Consulting, and before that she was a marketing department intern at Sberbank and a PR department intern at RIAC;
• Yana has graduated from the Moscow State Institute of International Relations (MGIMO) and holds a BA in Governance and International Affairs. She also took part in an exchange programme between MGIMO and Princeton University;
• Lived in Amsterdam while studying in Conservatorium van Amsterdam (classical voice department).
dedicated
listed equity team
listed equity team
[03]
ALEXEY KLAPTSOV, PhD
Partner
Partner
• Worked at Halcyon from 2005-2021 - Responsible for co-managing funds, trading and research;
• Graduated in 2001 from the National Research Nuclear University MEPhI with an MSc in Theoretical Physics;
• From 2001-2005 Alexey worked on his PhD in Condensed Matter Physics at the National Research Centre;
• Loves Chinese language and culture, all science related matters but he’s particularly passionate about physics.
• Graduated in 2001 from the National Research Nuclear University MEPhI with an MSc in Theoretical Physics;
• From 2001-2005 Alexey worked on his PhD in Condensed Matter Physics at the National Research Centre;
• Loves Chinese language and culture, all science related matters but he’s particularly passionate about physics.
ROLF HELBLING
strategic advisor - research
strategic advisor - research
• A co founder of Carnot Capital, (Carnot Efficient Energy Fund generated 215% since inception in 2009);
• Previously led the Industry and Telecom Research team of BZ Bank;
• Also worked in the private equity team of Bank Vontobel and corporate banking in Citibank in Zurich and New York;
• Graduated in economics from the University of St Gallen.
• Previously led the Industry and Telecom Research team of BZ Bank;
• Also worked in the private equity team of Bank Vontobel and corporate banking in Citibank in Zurich and New York;
• Graduated in economics from the University of St Gallen.
DMITRII DANILOV
ANALYST
ANALYST
• Responsible for Sustainable Energy market research;
• Previously worked as an engineer in R&D Center;
• Holds Master’s degree in Fundamental and Applied Chemistry - Lomonosov Moscow State University and is currently a PhD student in Materials Science.
• Previously worked as an engineer in R&D Center;
• Holds Master’s degree in Fundamental and Applied Chemistry - Lomonosov Moscow State University and is currently a PhD student in Materials Science.
EKATERINA KAVUNETS
ANALYST
ANALYST
• Was an intern in Citibank (Treasury and Trade Solutions Department);
• Have won the scholarship to study International Finance in Rennes School of Business, France and finished the Double Bachelor Degree program with GPA of 4.93;
• Ekaterina holds BA of excellence in Finance and Credit from Plekhanov University of Economics.
• Have won the scholarship to study International Finance in Rennes School of Business, France and finished the Double Bachelor Degree program with GPA of 4.93;
• Ekaterina holds BA of excellence in Finance and Credit from Plekhanov University of Economics.