Real Estate Lending Fund for Sustainable Commercial Properties Secures $785 Million from Nuveen Investments
Nuveen Green Capital Raises $785 Million for C-PACE Lending Fund III
Nuveen Green Capital, a leading player in the clean energy and energy efficiency lending market, has announced that it has raised $785 million in new capital commitments for its Nuveen C-PACE Lending Fund III. This fund is the third vintage of Nuveen's C-PACE Lending Funds and is aimed at enabling insurance investors to participate in this growing market.
The C-PACE (Commercial Property Assessed Clean Energy) strategies offered by Nuveen Green Capital are capital efficient and provide a solution that drives greater climate resiliency. These strategies now total more than $6 billion in assets under management (AUM), a figure that reflects the combined size of the C-PACE lending funds managed by Nuveen Green Capital.
The funds will be used to finance energy efficiency and sustainability projects for commercial real estate. The C-PACE program, led at the state level, offers a more affordable financing alternative to mezzanine debt and equity, with repayments made through an assessment on property tax bills.
Joseph Pursley, Nuveen Head of Insurance, Americas, stated that sustainability and impact are key considerations for insurers and their investments. He further added that the C-PACE strategies offered by Nuveen Green Capital meet the risk requirements of insurers and offer a scale that insurers are looking for in their investment portfolios.
Insurers are prioritizing longer duration, investment grade asset-backed securities with attractive risk-adjusted returns. The C-PACE strategies offered by Nuveen Green Capital fit this profile, making them an attractive investment option for insurance companies.
Nuveen Green Capital was rebranded after the acquisition to establish a foothold in the clean energy and energy efficiency lending market. The company was previously known as Greenworks, which was acquired by Nuveen in 2021.
The Nuveen C-PACE Lending Fund III is not the only fund managed by Nuveen Green Capital. The company's C-PACE strategies have been successful in the past, with the first and second C-PACE Lending Funds raising significant capital. The first fund raised $1.25 billion, while the second fund raised $2.5 billion.
In conclusion, Nuveen Green Capital's C-PACE strategies are a significant player in the clean energy and energy efficiency lending market. With more than $6 billion in assets under management and a successful track record, the company is well-positioned to continue its growth in this market. The recent fundraising for the Nuveen C-PACE Lending Fund III is a testament to the confidence investors have in Nuveen Green Capital and its C-PACE strategies.
[1] Nuveen Press Release: Nuveen Green Capital Raises $785 Million for C-PACE Lending Fund III. (2025). Retrieved from [link] [2] Nuveen Green Capital. (2025). About Nuveen Green Capital. Retrieved from [link] [3] U.S. Department of Energy. (2021). Commercial Property Assessed Clean Energy (C-PACE) Program. Retrieved from [link] [4] National Renewable Energy Laboratory. (2021). C-PACE Financing. Retrieved from [link]
- This massive infusion of $785 million into Nuveen Green Capital's C-PACE Lending Fund III demonstrates the potential for sustainable investment in the home-and-garden and real-estate sectors.
- By participating in the growing C-PACE market, insurance investors, driven by a priority for sustainability and attractive risk-adjusted returns, are investing in business ventures that foster financial growth and embrace sustainable-living practices.
- With the success of its previous funds, Nuveen Green Capital's innovative C-PACE strategies are not only shaping the clean energy and energy efficiency lending market, but are also appealing to investors seeking long-term and investment-grade asset-backed securities in the lifestyle space.
