About
Investing at the intersection
of alpha and responsibility
Clean Alpha Partners is a market neutral, factor neutral global equity hedge fund. We specialise in all facets of the worldwide energy transition and the electrotechnology required for this transformation. Our strategy prioritises generating high Sharpe returns in any market environment. As part of our investment process, we quantify the carbon emissions of every investment we make, resulting in a portfolio that is structurally short carbon emissions — a byproduct of our fundamental rigour – and delivers a unique return stream.
The world is in the early stages of an electric revolution, and energy transition spending is expected to rise 3.3x on previous levels, +$4.5 trillion pa*
*$1.0T re-allocated from high to low emissions assets + $3.5T new spending = +$4.5T, growing to $6.5T pa total low emissions spend (6.5/2 = 3.25x). Annual average spending on energy transition 2021-2050 (US$ Trillion)
Source: McKinsey & Co, January 2022, The net-zero transition, What it would cost, what it could bring
Our difference
We are already delivering for investors through disciplined execution, shaped by four points of difference.
Energy transition
specialists
We do not stray from our 30 years of domain expertise. We specialise in all facets of the worldwide energy transition and the electrotechnology required for this transformation.
Fundamental
stock pickers
We invest fundamentally from the bottom-up in companies we have analysed for most of our careers. Our repeatable five-step process, backed by rigorous analysis, isolates company-specific opportunities while hedging out systematic risk. This discipline results in a portfolio that is >70% idiosyncratic risk. Explicit price targets and stop-losses at the point of trade entry, protect downside and promote the capture of fundamental asymmetric pay-off as it materialises.
Quantifiable short
carbon emissions
As part of our disciplined process, we use proprietary analysis to quantify the carbon emissions of every investment we make. The result is a portfolio that is structurally short carbon emissions, a byproduct of our fundamental rigour. This analytical edge is part of what makes us unique.
High Asia weight
We maintain a market neutral, factor neutral portfolio. Typical geographical split is 50% Asia / 50% US&EUR equities in a global liquid market portfolio.
Our Flagship:
The Clean Alpha MN Fund
Our MN fund targets consistent, high risk-adjusted returns through fundamental long-short equity investing in companies powering, or being disrupted by, global electrification.
Four specialised verticals
Each vertical is managed by dedicated sector experts with extensive longitudinal knowledge of their universe.
Energy Infrastructure
Renewable generation, grid transmission and distribution, battery energy storage systems, nuclear
Auto & Machine Electrification
Electric vehicles, batteries, heat pumps, HVAC systems, industrial electrification
Decarbonisation Enablers
Power semiconductors, industrial automation, software, AI, green finance, blockchain
Critical Commodities
Copper, lithium, nickel, cobalt, aluminium, uranium-essential materials for the energy transition
Net Exposure: -10% to +10% (target market neutral)
Gross Exposure: Typically 150-250% (maximum 300%)
Long Positions: 30-50 single stocks
Short Positions: 45-90 positions (>75% single stocks, balance in indices/options/sector ETFs)
Position Sizing: Typical 2-4% of AUM, maximum 8%
Target Volatility: 6% annual (range 4-8%)
Liquidity: >90% of portfolio trades >$15M daily, positions limited to 2 days ADVT
Three-Tier Stop-Loss Framework:
- Position level: -25bp of strategy AUM per pair trade
- Vertical level: -1.25% of vertical AUM
- Portfolio level: -5% of portfolio AUM
Real-Time Monitoring: Integrated order management, portfolio management, and factor risk modelling ensure continuous oversight and rapid response.
Investment process
Our disciplined, repeatable approach flows through five stages.
500 large-cap ($31T combined), highly liquid ($100M+ average daily turnover) global equities.
Rigorous bottom-up research for every position: P&L, cash flow, balance sheet modelling, carbon impact assessment.
Identify compelling opportunities with >2x fundamental asymmetric pay-off, positive carbon yield, and clear catalysts.
All positions compete for capital allocation; trade plans established with explicit price targets and stops.
Market-neutral positioning with country/sector overlay limits, continuous Fundamental asymmetric pay-off monitoring, systematic profit capture.
Built by specialists.
Driven by our mission.
Our team brings together hedge fund rigour, deep sector expertise, and 25+ years navigating global equity markets. Three colleagues from Citadel anchor our portfolio construction and risk management culture, while our vertical heads are true domain experts in the industrial technology supply chain.
Matt Starick
Tech Enablers Vertical Head
Matt brings over 25 years of investment experience in fundamental, bottom-up stock selection and market neutral portfolio construction. He holds a Bachelor of Commerce (Accounting/Finance) and a Bachelor of Science (Geology) from The University of Melbourne, Australia.
Prior to founding Clean Alpha Partners, Matt founded and led Red Door Capital Management as CIO from 2018 to 2024, launching the Red Door Master Fund in 2019, a Pan-Asian Long/Short equity strategy focused on liquid equities across Japan, Greater China and Australia, with a specific focus on energy transition from 2022. Earlier in his career, he built and ran Long/Short market neutral equity businesses at Blue Pool Capital in Hong Kong and Merricks Capital in Melbourne, where his strategy ran an exclusive SMA for Millennium Management. Matt also managed global commodity equity portfolios at Citadel Investment Group and served as Director and Head of Asian Materials and Energy Research at Merrill Lynch Equities, earning top rankings from Institutional Investor and Greenwich Associates.
Mike Bastin
Mike has extensive experience in investment operations, risk management and trading execution across multiple markets. He holds a Bachelor of Commerce (Finance/Economics) from Deakin University, Melbourne, Australia.
Prior to helping found Clean Alpha Partners, Mike served as Head of Risk and Execution at Red Door Capital Management from 2018 to 2024, playing a critical role in establishing the business including systems infrastructure, operational processes, SFC licensing, fund establishments, and prime broker connectivity. He previously led Risk and Execution for Blue Pool Capital’s Long/Short market neutral equity business in Hong Kong, and spent eight years at Merricks Capital in Melbourne as Head of Execution and Risk Management, initially joining as Head of Operations to build out all infrastructure and operational processes. Mike’s career began at Merrill Lynch Australia and Hong Kong, where he held various roles including Director and Head of Global Markets and Investment Banking Services.
Jim Lewis
Jim brings specialized expertise in energy markets and investments with over 25 years of experience across both buy-side and sell-side roles. He holds an MBA from the University of Texas at Austin (McCombs School of Business) and a Bachelor of Arts in Journalism from the University of Washington.
Prior to helping found Clean Alpha Partners, Jim led analytic insight discovery within Amazon’s central corporate finance team from 2020 to 2024, building analyses used by the CFO and CEO for external guidance and owning downside cash flow modelling. His extensive energy investment experience includes managing Long/Short market neutral portfolios of US-listed and European Energy Services and Equipment equities at Citadel Global Equities, serving as an investment professional at Houston-based JVL Advisors screening private energy deals, and working as Director of Research at Signal Analytics, a quanto-fundamental and macro research boutique focused on Energy and Industrials.
Mark Busuttil
Mark brings over 20 years of investment experience in fundamental, bottom-up stock selection and analysis. He holds a Bachelor of Engineering (Mechanical) from the University of Western Australia and a Master of Business Administration from the University of Western Ontario (Richard Ivey School of Business).
Prior to joining Clean Alpha Partners, Mark spent nearly 15 years at J.P. Morgan Securities Australia as Senior Research Analyst and Executive Director, leading research teams covering Oil and Gas, Utilities, Metals and Mining, Telecommunications and Infrastructure, consistently ranking highly amongst priority investors. Before that, he progressed through UBS Securities in Australia and Canada, advancing from support analyst to leading Metals and Mining analyst with sole coverage of Australian Steel stocks and supporting Special Situations coverage across Canadian Aerospace, Building Materials, Retail and Steel sectors. Mark began his career with various engineering roles in commercial building construction and design from 1994 to 2002.
Dug McNee
Dug brings extensive trading experience across global markets with particular expertise in European and Asian execution. He holds a Bachelor of Economics (Agriculture) from The University of Queensland, Australia.
Prior to helping found Clean Alpha Partners, Dug served as Managing Director and head of Asia outsourced trading at Jefferies International from 2021 to 2023, leading trading and execution services for a global client base. He spent nearly 15 years at Citadel Investment Group as a senior trader for Europe and Asia, initially trading European financials, industrials and energy sectors in London while playing a key role in developing Citadel’s investment, systematic trading and risk management systems. He later transferred to Hong Kong to expand Citadel’s Asian market presence, covering Asian industrials, energy and TMT sectors while serving as primary trader for Asian risk arbitrage strategies and managing all ECM IPOs and secondary placements in the region.
Partner with us.
Clean Alpha Partners works exclusively with institutional investors, family offices, and qualified fund allocators seeking sophisticated, market-neutral exposure to the energy transition. Please submit your contact request using the contact form or contact us directly.
Melbourne, Victoria 3000, Australia
99 Queen’s Road, Central, Hong Kong