Nuveen Raises $785 Million in Commitments For Nuveen C-PACE Lending Fund III

• Private Strategy Brings Insurers Scaled Access to Investment-Grade Fixed Income with Definable Positive Impact
• Since Inception, Nuveen C-PACE Strategies Now Total Over $6 Billion in AUM

NEW YORK, July 30, 2025 /PRNewswire/ -- Nuveen, one of the largest asset managers globally with over $1.3 trillion AUM¹, and Nuveen Green Capital ("NGC"), a Nuveen affiliate and leading provider of sustainable commercial real estate financing solutions, announced $785 million in new capital commitments to Nuveen C-PACE Lending Fund III.

Nuveen Green Capital's C-PACE lending strategy provides insurance investors with access to investment-grade impact assets, offering the potential for long-dated, steady returns while supporting much-needed capital expenditures on commercial properties. C-PACE is a public-private financing program led at the state level that provides building owners and developers with low-cost, long-term capital to fund commercial property improvements towards greater energy efficiency, water conservation and climate resiliency.

"While sustainability and impact remain key considerations for insurers and their investments, we also continue to see life insurers prioritizing longer duration, investment grade asset backed securities with attractive risk-adjusted returns," said Joseph Pursley, Nuveen Head of Insurance, Americas. "NGC's C-PACE strategies meet both of these considerations, which provide a solution that drives greater climate resiliency while being capital efficient, meets risk requirements and offers scale that insurers are looking for in their investment portfolios."

"NGC's vertically integrated platform brings investors scaled and proprietary flow of C-PACE assets with established sponsors with both compelling economics and positive social impact," said Alexandra Cooley, CIO and Co-founder of Nuveen Green Capital. "For property owners, this fund enhances NGC's balance sheet lending capabilities and our readiness to provide attractive financing that improves buildings' bottom lines."

Nuveen's recent survey of major global institutional investors reveals that 93% of insurers consider or plan to consider environmental and social impact when making investment decisions. The firm currently manages approximately $325 billion in assets for over 125 global insurance clients.

As a leading C-PACE player based on 2024 market originations, NGC has continued to pioneer the access, structure and packaging of C-PACE assets on behalf institutional investors². Since 2017, the company has issued more than $3 billion through securitizations and private funds, establishing itself as the first to securitize the asset class and launch a private fund series³.

According to a recent NGC impact report, its C-PACE financings in 2024 reduced CO2 emissions equivalent to the impact of more than 407,000 acres of forest; saved more than 461 million gallons of water and more than 585 megawatt hours of energy and supported the creation of more than 2,100 housing units⁴.

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About Nuveen
Nuveen, a global asset manager, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 31 Mar, 2025 and operations in 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

This vehicle is only available to accredited investors

Important information on risk

Past performance is no guarantee of future results. All investments carry a certain degree of risk, including the possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Certain products and services may not be available to all entities or persons. There is no guarantee that investment objectives will be achieved.

Investors should be aware that alternative investments are speculative, subject to substantial risks including the risks associated with limited liquidity, the potential use of leverage, potential short sales and concentrated investments and may involve complex tax structures and investment strategies. Alternative investments may be illiquid, there may be no liquid secondary market or ready purchasers for such securities, they may not be required to provide periodic pricing or valuation information to investors, there may be delays in distributing tax information to investors, they are not subject to the same regulatory requirements as other types of pooled investment vehicles, and they may be subject to high fees and expenses, which will reduce profits.

C-PACE assets are subject to various risks, including but not limited to: risks of insufficient cash flow of the subject property due to impaired operations or value; risks of a decline in the real estate market or financial conditions of a major tenant; risks of delinquencies and defaults; failure of the subject properties to complete agreed upon construction, repairs or improvements or achieve projected energy savings; limited operating history of certain subject properties; risk of assessments underlying certain C-PACE assets failing to comply with applicable state or local laws; risks of disputes with subject property owners and mortgage lenders; environmental contamination risks affecting the subject property; lack of industry-wide prepayment information available for commercial C-PACE assessments; and changes in laws and policies impacting C-PACE programs.

Responsible investing incorporates Environmental Social Governance (ESG) factors that may affect exposure to issuers, sectors, industries, limiting the type and number of investment opportunities available, which could result in excluding investments that perform well.

Nuveen considers ESG integration to be the consideration of financially material environmental, social and governance (ESG) factors within the investment decision making process. Financial materiality and applicability of ESG factors varies by asset class and investment strategy. ESG factors may be among many factors considered in evaluating an investment decision, and unless otherwise stated in the relevant offering memorandum or prospectus, do not alter the investment guidelines, strategy or objectives. Select investment strategies do not integrate such ESG factors in the investment decision making process.

The data and claims included in the material have not been verified by an independent third party. 

¹ As of April 30, 2025.
² Based on 2024 NGC originations as a percentage of PACE originations as reported by C-PACE Alliance, as of 31 Dec 2024.
³ Asset Securitization Report, Greenworks 1^st to market with commercial PACE securitization, 27 Sept 2017.
⁴ Nuveen Green Capital, 2024 Annual impact report.

SOURCE Nuveen