Actis, a pan-emerging market investment firm, has elected Torbjorn Caesar as the Firm’s new Senior Partner, effective immediately.

Caesar succeeds Paul Fletcher, who becomes Non-Executive Chairman of the Firm.

Before being elected Senior Partner, Caesar was Co-head of Actis’ energy business, and has 25 years of experience in the energy sector, most of it in emerging markets.

As Senior Partner, Caesar chairs Actis’ Executive Committee and also sits on the Energy Investment Committee.

Commenting on his appointment, Caesar said: “On behalf of the Firm, I would like to thank Paul for the tremendous leadership he has provided to Actis as Senior Partner over the past decade in creating a leading global pan-emerging markets investment firm.”

“I am excited and fortunate to be working with an extremely talented team that will build upon the global platform and cohesive culture that Paul has helped create, while continuing to deliver the best possible outcomes for our investors. I look forward to working closely with Paul in the years ahead,” he said.

Caesar began his working life building power plants in Egypt for leading engineering firm ABB and stayed with them for 13 years working in Germany, Switzerland, Russia and Singapore, developing, building and investing in the emerging markets power sector.

He left in 1999 to found an internet technology company followed by a combined heat and power business, two ventures that drove home the importance of capital and the challenges of building a business.

In 2002 as one of the founding partners, Caesar created Globeleq, which subsequently became Actis’ first Energy fund.

At Globeleq, he managed its initial acquisitions in Africa and Asia, overseeing all commercial, operational and business development activities in Africa, before being appointed Globeleq CEO in 2006.

As CEO, he refocused the company and oversaw investments and exits generating a $1bn capital gain and a 27% gross return.

Caesar went on to establish Actis Infrastructure 2, together with Actis Energy Co-head Mike Till, which is currently in the process of exiting its investments and is expected to deliver a similar mid 20% gross return.

He was also instrumental in raising Actis Energy 3 which is now committed/pledged and on track for similar success.

Fletcher said: “I am delighted that Torbjorn will take over as the Senior Partner of Actis. During his 13 years at the Firm, he has shown outstanding leadership skills in tandem with generating excellent investment returns. We are indeed fortunate to have him lead and inspire the next generation of Actis and to develop the Firm in its second decade.”