Power M&A Banker Leaving JPMorgan for Quantum
Verma will relocate to Houston for his new role and will make investments via Quantum's fifth fund, which will total more than $3 billion.
August 8, 2008
Dheeraj Verma, an executive director and co-head of power M&A at JPMorgan, is leaving the bank next week to join private equity firm Quantum Energy Partners, a source familiar with the situation confirmed to IDD.
Verma will step into his new role as head of power investments at Quantum, which has offices in Houston and Albany, Texas, in October. He is relocating to Houston from New York and will report to S. Wil VanLoh Jr., Quantum co-founder and managing partner.
Verma has advised on more than 40 deals, including over 25 in the power space, since joining JPMorgan in 2000. He will help Quantum invest in power companies via the private equity firm's fifth fund, Quantum Energy Partners V, which will total north of $3 billion when fundraising is complete, according to the source, who requested anonymity.
Quantum focuses on investments worth between $25 million and $200 million in companies based in the US and Canada. The firm's average investment duration lasts from three to six years, and it seeks an internal rate of return for its portfolio of more than 25% as well as a return on investment of three times the original value.
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