Partners Group's head of infrastructure Esther Peiner is making the case for an overlooked niche in the renewable energy market. The Swiss private markets firm has taken a different approach with its North Star platform, focusing on specialized vessels that serve the offshore wind sector.

North Star operates emergency rescue and response vessels (ERRV) and service operation vessels (SOV) from its Aberdeen base. Peiner notes that even a year ago, she viewed the opportunity as primarily a build platform rather than a buy platform, suggesting the strategy has evolved significantly.

The sector may be easy to overlook, but Peiner calls it super interesting from a risk-return perspective. Offshore wind projects require specialized maritime support, creating steady demand for these vessel services. This represents Partners Group's bet on essential infrastructure that enables the broader renewable energy transition.

The strategy reflects growing institutional interest in the operational backbone of clean energy. As offshore wind expands globally, specialized service providers like North Star could capture outsized returns by addressing critical supply chain gaps in the sector.