Nuveen Raises $785 Million For Third C-PACE Fund

The environmental and social impact of NGC’s financing activities is underscored by its 2024 impact report. According to the report, C-PACE investments made in 2024 contributed to reductions in carbon emissions equivalent to those absorbed by more than 407,000 acres of forest. They also resulted in the conservation of over 461 million gallons of water and 585 megawatt hours of energy savings. 

The environmental and social impact of NGC’s financing activities is underscored by its 2024 impact report. According to the report, C-PACE investments made in 2024 contributed to reductions in carbon emissions equivalent to those absorbed by more than 407,000 acres of forest. They also resulted in the conservation of over 461 million gallons of water and 585 megawatt hours of energy savings. Beyond environmental benefits, these financings supported the development of over 2,100 housing units, adding a critical social dimension to the initiative.

These outcomes reflect a broader shift in how institutional investors—particularly insurance companies—are viewing ESG (environmental, social, and governance) considerations. A recent Nuveen survey revealed that 93% of the firm’s insurance clients either currently consider or are planning to incorporate environmental and social impact factors into their investment decision-making. This growing alignment between investment strategy and sustainability goals has positioned Nuveen as a preferred partner for insurance companies looking to integrate ESG considerations into fixed-income portfolios.

Today, Nuveen manages approximately $325 billion in assets on behalf of more than 125 global insurance clients. The addition of the third C-PACE fund not only strengthens its position in the ESG investment space but also expands the firm’s offerings in sustainable infrastructure and commercial real estate.

C-PACE financing has increasingly gained attention as a unique and effective mechanism for deploying capital toward climate-aligned projects, especially as real estate remains one of the largest contributors to greenhouse gas emissions globally. By enabling upgrades such as HVAC improvements, solar installations, and water conservation technologies, C-PACE plays a vital role in reducing the carbon footprint of buildings without requiring upfront capital from property owners.

As climate change continues to influence investor behavior and regulatory expectations, funds like Nuveen’s C-PACE Lending Fund III stand as examples of how traditional financial tools can be reimagined to drive sustainable transformation. With deep experience in the space and a robust pipeline of projects, Nuveen Green Capital is poised to further accelerate impact through its innovative lending strategy.

In sum, the successful close of $785 million in new capital commitments marks a significant milestone for Nuveen and the broader C-PACE ecosystem. It reaffirms the growing appetite for impact-aligned financial products and the increasing importance of sustainability in shaping the future of commercial real estate investment.