A heat management system for an adjustable frequency drive, said adjustable frequency drive including a number of power modules, each said power module including a number of inverters, each said inverter including a number of power poles, said heat management system including: a housing assembly defining a power module enclosure and a liquid cooling assembly enclosure; a first heat management assembly substantially disposed in said power module enclosure; and a second heat management assembly (40, 44) which is not substantially disposed in said power module enclosure; wherein: said first heat management assembly is a convection assembly; and said second heat management assembly is a conduction with internal fluid flow assembly, including: a primary cold plate structured to support, and be thermally coupled to, said number of power poles; said primary cold plate including a single inlet port and a single outlet port; a heat exchanger including an inlet port and an outlet port; a first conduit providing fluid communication between said heat exchanger outlet port and said primary cold plate inlet port; and a second conduit providing fluid communication between said primary cold plate outlet port and said heat exchanger inlet port. a housing assembly defining a power module enclosure and a liquid cooling assembly enclosure; a first heat management assembly substantially disposed in said power module enclosure; and a second heat management assembly (40, 44) which is not substantially disposed in said power module enclosure; wherein: said first heat management assembly is a convection assembly; and said second heat management assembly is a conduction with internal fluid flow assembly, including: a primary cold plate structured to support, and be thermally coupled to, said number of power poles; said primary cold plate including a single inlet port and a single outlet port; a heat exchanger including an inlet port and an outlet port; a first conduit providing fluid communication between said heat exchanger outlet port and said primary cold plate inlet port; and a second conduit providing fluid communication between said primary cold plate outlet port and said heat exchanger inlet port. said first heat management assembly is a convection assembly; and said second heat management assembly is a conduction with internal fluid flow assembly, including: a primary cold plate structured to support, and be thermally coupled to, said number of power poles; said primary cold plate including a single inlet port and a single outlet port; a heat exchanger including an inlet port and an outlet port; a first conduit providing fluid communication between said heat exchanger outlet port and said primary cold plate inlet port; and a second conduit providing fluid communication between said primary cold plate outlet port and said heat exchanger inlet port. a primary cold plate structured to support, and be thermally coupled to, said number of power poles; said primary cold plate including a single inlet port and a single outlet port; a heat exchanger including an inlet port and an outlet port; a first conduit providing fluid communication between said heat exchanger outlet port and said primary cold plate inlet port; and a second conduit providing fluid communication between said primary cold plate outlet port and said heat exchanger inlet port.