Replay: Join Blackstone in the “Roof to Socket” Revolution: CEOs of Altus Power, CBRE Acquisition Holdings in Fireside Chat – IPO Edge
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Replay: Join Blackstone in the “Roof to Socket” Revolution: CEOs of Altus Power, CBRE Acquisition Holdings in Fireside Chat
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Replay: Join Blackstone in the “Roof to Socket” Revolution: CEOs of Altus Power, CBRE Acquisition Holdings in Fireside Chat

IPO Edge and the Palm Beach Hedge Fund Association hosted a fireside chat with the Co-CEOs of Altus Power, Inc. and the CEO of CBRE Acquisition Holdings, Inc. (NYSE: CBAH)  to discuss the companies’ upcoming business combination, strategic partnerships with CBRE and Blackstone, the commercial and industrial markets for solar, Altus Power’s scalable business model, and differentiation from competitors. The event featured Altus Power Co-Founders & Co-CEOs Lars Norell and Gregg Felton as well as CBRE Acquisition CEO Bill Concannon. They will be joined by IPO Edge Editor-in-Chief John Jannarone and Multimedia Editor Alexandra Lane in a moderated video session lasting approximately 60 minutes and including a Q&A with the audience.


Altus Power, based in Stamford, Connecticut, is creating a clean electrification ecosystem, serving its commercial, public sector and community solar customers with locally-sited solar generation, energy storage, and EV-charging stations across the U.S. Since its founding in 2009, Altus Power has developed or acquired over 350 megawatts from Vermont to Hawaii. Visit to learn more.

One unusual feature investors should welcome is the SPAC’s compensation structure. Unlike most SPACs that simply grant shares in a “promote” (which has been a target of criticism) CBAH’s economics are long-term and not guaranteed. The rewards are based on upside performance and paid out over seven years. IPO Edge recently published a comprehensive analysis of the deal which can be found here.

If any individual CBAH stockholder who held shares as of the October 27, 2021 record date for voting does not receive the Proxy Statement/Prospectus within the next few days, such stockholder should (i) confirm his or her Proxy Statement/Prospectus’s status with his or her broker, bank or other nominee, (ii) contact Morrow Sodali LLC, CBAH’s proxy solicitor, for assistance via e-mail at or toll-free call at (800) 662-5200 and brokers, bank and other nominees can place a collect call to Morrow Sodali at (203) 658-9400, or (iii) contact CBAH by mail at CBRE Acquisition Holdings, Inc., 2100 McKinney Avenue, Suite 1250, Dallas, TX 75201.

Messrs. Norell, Felton, and Concannon discussed:

  • Overview of Altus/CBAH transaction and strategic partnerships with CBRE and Blackstone
  • Market demand and opportunity for commercial & industrial solar, energy storage and EV charging infrastructure
  • Altus Power’s scalable business model – standardizing and streamlining each step in the value chain from customer acquisition through financing
  • Altus Power’s national footprint
  • Altus Power’s key differentiators

About the Speakers:

Lars Norell is a Co-Founder and Co-CEO of Altus Power. Before starting Altus Power, Mr. Norell was a Principal and Managing Director at Cohen & Company where he served as Head of Capital Markets and subsequently led the Alternative Assets effort. Prior to joining Cohen & Company in February of 2006, Mr. Norell was a Managing Director and Co-Head of US Structured Credit Products at Merrill Lynch. Before that he was a Vice President and investment banker in the Credit Products Group at Credit Suisse. Mr. Norell began his career as an attorney at Cadwalader, Wickersham & Taft in 1998. Educated in Europe and the U.S., Mr. Norell has a BSBA from IUM in France and a J.D. from the University of Virginia School of Law.

Gregg Felton is a Co-Founder and Co-CEO of Altus Power. Prior to founding Altus Power, Mr. Felton was a partner of Goldman Sachs and the Chief Investment Officer of the Credit Alternatives platform at Goldman Sachs Asset Management (GSAM), where he oversaw hedge funds as well as several private credit vehicles, mutual funds, and separate accounts aggregating over $5 billion. Prior to joining Goldman Sachs, Mr. Felton was a senior portfolio manager at Amaranth Advisors, a multi-strategy hedge fund located in Greenwich, Connecticut. He led Amaranth’s global corporate credit investment team from 2000 to 2006. Before joining Amaranth, he was a vice president at Chase Manhattan Bank. Mr. Felton earned a BA in Economics from Tufts University and a JD and MBA from the Georgetown University Law Center and School of Business.

Bill Concannon serves as CEO and Director of CBRE Acquisition Holdings. Mr. Concannon is CBRE’s Global Group President, Clients and Business Partners, where he drives the firm’s engagement strategy for CBRE’s largest occupier and investor clients, as well as with key strategic partners. He has been with CBRE since its acquisition of the Trammell Crow Company in 2006. Before assuming his current role, he served as Global CEO of CBRE’s GWS business segment, a global, integrated, full-service real estate outsourcing business serving the world’s largest real estate occupiers. He serves on the board of Charles Rivers Associates (NASDAQ: CRAI). Mr. Concannon received a B.S. from Providence College.


Jarrett Banks, Editor-at-Large

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