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Pearl Advisory

Impact investor

Luxembourg · 19 people tracked

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Investment thesis

PEARL finances energy and environmental infrastructure projects that support the European energy transition and circular economy. Its first fund built a platform of dispatchable renewable energy assets, focused notably on biomass valorization, demonstrating an ability to originate, finance and operate complex projects. The current fund broadens its technological and sectoral scope, investing in solid and liquid biofuels (black pellets, biomethanol, sustainable aviation fuels), biomethane, and flexibility and storage solutions for European electricity grids. The objective is to develop concrete alternatives to fossil fuels used in industry, communities and transport, all within a rigorous environmental impact and sustainability framework, certified by the GreenFin label.

Source: firm website, verified Aug 3, 2026.

HQ
Luxembourg, LU
Instruments
Equity
Founded
2019
AUM
$660M

Team · 19 people

from the firm's website
Jean-Christophe Guimard· Associe (Founder Partner)in

Founding partner of PEARL and a long-time energy entrepreneur specializing in bioenergy and biomass projects; founded and ran NEREA (Akuo Energy) and previously held roles at SUEZ, Alstom Power, Veolia and PwC.

Pierre Rellet· Associe (Founder Partner)in

Founding partner of PEARL with over thirty years in energy, environmental services and infrastructure; former CEO of Veolia Industries and chair of FEAD and FNADE, having started at Arthur Andersen.

Guillaume de Forceville· Associe (Partner)in

Partner at PEARL who previously served as CEO of EDF International and EDF Chile and held financial roles at Sanofi, including UK CFO; began his career at PwC.

Antoine Martin· Directeur d'investissementin𝕏

Director on PEARL's investment team since 2024; formerly head of structured finance for LATAM Renewables at TotalEnergies, after roles at VINCI Concessions, SMBC and Crédit Agricole CIB.

Aurélien Joulia· Charge d'investissementin

Analyst on PEARL's investment team since 2023; previously spent two years at Société Générale CIB in New York on M&A advisory for renewable energy, utilities and infrastructure.

Baptiste Fleury· Charge d'investissementin

Analyst on PEARL's investment team since 2025; previously worked at Evergaz in project finance and M&A, with prior M&A experience at Dalkia, URGO Group and Deloitte.

Christophe Legros· Construction Directorin

Construction director in PEARL's design office since 2023, with prior major-project management roles at VINCI, Spie Batignolles, ENGIE Cofely, Dalkia and Alstom Power.

Clément Bayard· Project and Engineering Directorin

Project and engineering director in PEARL's design office since 2025; previously held management roles at Akuo Energy, TotalEnergies and the EDF group on energy production and storage projects.

Clément Naye· Project Managerin

Project manager in PEARL's design office since 2022, with twenty years in energy project development including biomass cogeneration work at Akuo Energy (Kogeban and CBEM sites).

Elise Naturel· ESG Managerin

ESG manager at PEARL since 2024; previously worked in socially responsible investing at Trusteam Finance and Palatine Asset Management.

Emmanuel Courant· General Counselin

General Counsel of PEARL since 2019; formerly on the executive board of Edmond de Rothschild Private Equity and General Secretary of Exane Asset Management.

Florian Leclère· Directeur d'investissement senior

Director on PEARL's investment team since 2024; previously led wind and solar project development in LATAM at TotalEnergies and worked at Bouygues Energies & Services and ENGIE Cofely.

Grégory Galmiche· Project Manager

Project manager in PEARL's design office since 2024; previously worked at Veolia on energy recovery projects after a career as a French Navy nuclear submarine officer.

Marion Antarieu· Financial Controller

Financial controller at PEARL since 2025, previously holding several finance roles at Albioma including Group Treasurer and CFO in Brazil; started at KPMG in Transaction Services.

Matthieu Boschetti· Charge d'investissement

Analyst on PEARL's investment team since 2024; previously spent three years at Mazars in project finance covering energy, transport and telecom transactions, after starting at EDF in M&A.

Paul Nicolas· Chief Financial Officerin

PEARL's CFO since 2024, previously spending nine years at GE Renewable Energy (including CFO of GE Grid Solutions) and five years at Alstom.

Philippe Pascal· Operations Directorin

Director of biomass asset operation and supply at PEARL since 2020; formerly director of biomass cogeneration operations at Akuo Biomass and a wood energy supply manager at Veolia.

Stéphanie Dam· Office Manager

Office Manager at PEARL coordinating administrative activities, general services and internal and external events, with prior experience in retail and human resources.

Yohan Corre· Charge d'investissement seniorin

Manager on PEARL's investment team since 2019; previously worked in Edmond de Rothschild's private equity division in Geneva, with internships at Deloitte and Edmond de Rothschild.

Frequently asked questions

What sectors does Pearl Advisory focus on?
Pearl Advisory focuses on Circular Economy, Cleantech, Climate Tech, Energy, Impact & Social Good.
Where is Pearl Advisory located?
Pearl Advisory is headquartered in Luxembourg, LU.

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