New Energy Capital Partners LLC closes clean energy infrastructure fund with commitments of $325 million

Written By: Stratton Report
April 4, 2017

On April 4, New Energy Capital Partners, LLC, an alternative asset management firm focused on debt and equity investments in clean energy infrastructure projects and companies, announced that it held a final closing for its New Energy Capital Infrastructure Credit Fund with total capital commitments of $325 million.

According to New Energy Capital, the fund was oversubscribed and exceeds NEC’s initial target of $250 million.

The asset manager noted that the fund held its first close in the first half of 2016 and had already committed more than one third of its capital to portfolio investments in solar, wind, energy efficiency, storage, and water in the forms of senior debt, subordinated debt, and preferred equity.  

Scott Brown, Chief Executive Officer of NEC, observed:

Institutional investors are increasingly seeking exposure to clean energy investments, the fastest growing sector of the energy market.  Since NEC’s inception thirteen years ago, our funds have demonstrated strong performance through multiple market cycles and regulatory changes.  Our industry experience and risk management processes, coupled with our broad diversification across markets, regulatory regimes, and technologies, offers our investors a unique value proposition. We look forward to continuing to provide our diverse array of investors—ranging from pure return-focused institutions such as insurance companies to impact-seeking college endowments and foundations—with attractive risk-adjusted returns.

Patrick Fox, Partner and Portfolio Manager at NEC, remarked: “We believe the North American clean energy market is stronger than ever as we continue to find attractive opportunities for investment.  We are grateful for the enthusiastic support we have received from the investor community and appreciate the opportunity to serve as one of their primary asset managers for clean energy investments.”