The Church Pension Fund (CPF), a New York City-based financial services organization that serves the Episcopal Church, has invested $40 million in the New Energy Capital Infrastructure Credit Fund II LP, which will invest in clean energy assets – including wind, solar and storage – across North America.
The fund is managed by New Energy Capital Partners LLC (NEC), an alternative asset management firm. It will provide loans to renewable energy developers.
“This fund reflects the growing interest from investors in the clean energy market,” states Scott Brown, CEO of NEC. “Our investors are looking for investments that deliver strong risk-adjusted returns while also providing a positive environmental impact. We are grateful for the support of The Church Pension Fund, and we look forward to expanding our relationship in the future.”
CPF says its socially responsible investing (SRI) focuses on assets that offer attractive risk-adjusted returns and have a positive social impact. CPF currently has SRIs in 25 countries.
“This investment will support the development and operation of clean energy infrastructure assets throughout North America,” says Roger Sayler, executive vice president and chief investment officer of CPF. “We look forward to building our relationship with NEC as we continue to explore future impact investments that meet our goal of generating attractive returns with positive social impact.”