(Bloomberg) -- Generate Capital, which focuses on sustainability and infrastructure, hired Bill Sonneborn, most recently chair of International Finance Corp.’s investment committee, as president. 

“Bill is the most senior hire we’ve ever made and one I’m super excited about,” Scott Jacobs, chief executive officer and co-founder of Generate Capital, said in an interview. “We’ll tackle the next decade or more with an even stronger team than we’ve had.”

Generate — which has raised more than $8 billion since it was founded in 2014 — builds, operates, owns and finances platforms in the transportation, clean-energy, waste, water, agriculture and digital-infrastructure sectors. It has made bets in battery storage, solar, green hydrogen and the treatment of septage and biosolids. The San Francisco-based firm says it has helped generate 340 gigawatt-hours of renewable power and process 770 kilotons of organic waste. 

“Our goal is to grow the balance sheet and find other ways of attracting capital amid an insatiable demand for clean infrastructure,” Jacobs said. Generate describes itself as a one-stop shop that can provide equity or senior secured or mezzanine debt to companies, as well as services including regulatory advice, business-development assistance and operational expertise.

Sonneborn, who started with the firm this month, fills a vacancy created when Generate’s former president, Jigar Shah, left in 2021 to join the US Department of Energy’s Loan Programs Office.

“I look forward to the impact we can have together,” Sonneborn said. Generate goes beyond investing and has created “a flywheel that is unique in this industry,” he said. 

At the end of November, Sonneborn left International Finance Corp., where he was global director of disruptive technologies, creative industries and funds and also chair of its investment committee. He oversaw $7.5 billion in investments during his four years at IFC, Generate said. Before IFC, he held roles including president of EIG Global Energy Partners, partner at KKR & Co. and president at TCW Group Inc. 

“Bill is a proven and distinguished investor in sustainable infrastructure and a proven executive from top investment firms,” Richard Kauffman, Generate’s chairman, said in an emailed statement. “We look forward to Bill helping Generate advance our objectives as a public benefit corporation.”

Generate oversees capital for institutions including Australia’s AustralianSuper, QIC and Aware Super, Sweden’s AP2, Wellcome Trust and the UK’s Railways Pension, also known as RailPen. 

“We will look to consolidate if there’s a capability that we lack,” Jacobs said, adding that Generate isn’t interested in being part of another organization.

More than $9 trillion is required annually for a net zero transition, according to consulting firm McKinsey & Co.

“We’ve got a long way to go,” Jacobs said. 

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