Ygrene Energy Fund receives $95 million investment from Lightyear Capital LLC

Written By: Stratton Report
December 21, 2016

Ygrene Main

On December 21, PACE provider Ygrene Energy Fund Inc., announced a $95 million investment from a fund affiliated with private equity firm Lightyear Capital LLC.

Per Ygrene, the capital will go towards the company’s continued national expansion as it breaks ground in new territories.

Ygrene’s also announced that it had issued $329M in private and public securitizations in 4Q16, stressing that its recent $184 million public ABS offering was the PACE industry’s first AAA-rated offering.

Mark F. Vassallo, Managing Partner at Lightyear observed: “We see tremendous opportunity in the PACE sector. We’re pleased to be working with the management team at Ygrene to continue its growth and expand its presence in new and existing markets.”

Greg Norton, Executive Director of Golden State Finance Authority remarked:

“Ygrene is revolutionizing residential and commercial upgrades by providing access to safe, secure financing, backed by industry-leading consumer protections policies. Municipalities looking to reduce energy or water consumption, fortify against a changing climate, create new jobs, and improve property values can find a strong partner in Ygrene.”

Stacey Lawson, Executive Vice Chairman of the Board at Ygrene noted: “With the support of our extraordinary capital partners, Ygrene has grown 20-fold in just the last 24 months. In that time, our team has built one of the most capital-efficient PACE financing models to date, garnering interest from a diverse array of investors that see the value of our AAA-rated assets.”

Ygrene President and CEO, Rocco Fabiano, commented: “As we look toward our next phase of growth, this equity investment will be key to ramping our operations nationwide. At Ygrene, we firmly believe in putting the consumer first, and this begins with opening access to clean energy- and climate-friendly financing for as many Americans as possible.”