From pre-investment to operations, Panda’s partners understand the complexities of the power industry. They are extremely knowledgeable of the nation’s various power markets and know how to site or acquire the right asset, in the right place and at the right time to take advantage of the many opportunities which exist in today’s marketplace. They know how to structure power investments to help minimize risk and maximize returns.

Robert W. Carter

Managing Partner and Chairman, Chief Compliance Officer

Robert W. Carter

Mr. Carter is the Managing Partner and Chairman, Chief Compliance Officer of Panda Power Funds. He served as the Managing Partner, Chairman and Chief Executive Officer of Panda Power Funds from April 2010 - September 2016. Mr. Carter also served as Chairman and Chief Executive Officer of Panda Energy, the predecessor organization to Panda Power Funds, since founding the company in 1982. Under his leadership, Panda Energy developed more than 9,000 megawatts of generating capacity, at a cost of more than $6 billion, including the two largest natural gas-fueled power plants ever built in the United States — the 2,250-MW El Dorado, AR and the 2,250-MW Gila River, AZ generating stations. He has more than 30 years of business experience in the energy sector in the United States and abroad.

Prior to founding Panda Energy, Mr. Carter founded Carter Oil and Gas, Inc. in 1980 where he developed oil and gas prospects in the U.S. and Colombia. Before founding Carter Oil and Gas, Mr. Carter was Vice President of Oil and Lease Sales for Reserve Energy where he developed oil and chemical projects in the U.S. and Saudi Arabia. Mr. Carter spent his earlier career in the manufacturing sector where he represented Olin Matheson Chemical and Inland Mead Corporation. Mr. Carter attended the University of Georgia.

Mr. Carter and his wife Janice live in Dallas and have two children and five grandchildren. He remains an active philanthropist and avid outdoor sportsman. In 2010, Mr. Carter received the T. Boone Pickens Lifetime Sportsman of the Year Award, an honor recognizing those who have demonstrated a life of adventure, respect of natural resources and spirit of giving back to the community. As a recipient of this prestigious honor, Mr. Carter joined a small but distinguished list of past winners who include notable conservationist/entrepreneur Ted Turner and author Ray Sasser.

“We deeply value the trust and confidence our partners place in us. They represent charitable organizations, retirement savings, teachers, and public and private sector employees. We look forward to rewarding their faith in us.”

William C. Nordlund


William C. Nordlund

Mr. Nordlund is a Partner of Panda Power Funds, responsible for equity and fund formation. Prior to Panda Power Funds, Mr. Nordlund served as Senior Vice President responsible for equity, Executive Vice President of Finance, and Senior Vice President and General Counsel at Panda Energy. Mr. Nordlund has also served as Head of Power Generation at ABB Equity Ventures, President and Chief Executive Officer of Dolphin Networks Ltd., a portfolio company of Dolphin Equity Partners engaged in the development of fiber optic cable networks, Vice President and General Counsel at The Oxford Energy Company, an attorney at Constellation Holdings, and a Partner at Winston & Strawn. He has more than 30 years experience in the energy sector.

Mr. Nordlund received a Master of Management degree in Finance and Management Policy from JL Kellog School of Business at Northwestern University, a Juris Doctor degree from Duke University and a Bachelor of Arts degree in Economics and Business Administration from Vanderbilt University.

“Panda finds ways to do the impossible. The landmark Temple and Sherman transactions were the result of our team’s creativity and perseverance and the support of our partners.”