Nuveen Secures $1.3B For Global Energy Credit Fund

Nuveen has secured $1.3 billion in initial commitments for its Energy & Power Infrastructure Credit Fund II (EPIC II). This is the first close toward the strategy’s $2.5 billion target. The private credit strategy offers tailored financing to companies in the energy and power sector. It takes advantage of the rising global demand for reliable and sustainable energy infrastructure. EPIC II will invest in various opportunities, including renewable energy generation, energy storage, hydrocarbons, midstream operations, liquefied natural gas (LNG), and other sustainable infrastructure projects. The fund also includes strong risk-mitigation features to protect investments from market fluctuations, inflation, and geopolitical uncertainties.

The strategy has drawn interest from top global institutional investors. Notable backers include a major Canadian pension fund manager, TIAA, and various insurers and pension funds from Japan, Korea, and Europe. Nearly half of the initial commitments have come from investors outside the United States, highlighting the global appeal of Nuveen’s infrastructure credit approach. This first close builds on the solid performance of EPIC I, its predecessor, and benefits from the expertise of Nuveen’s Energy Infrastructure Credit team, led by Senior Managing Director and Portfolio Manager Don Dimitrievich. With over $13 billion invested through various market cycles, the team contributes decades of experience in managing energy infrastructure credit strategies.

EPIC II aims to meet the growing demand for energy infrastructure, driven by trends like digitalization, electrification, and the reindustrialization of North America, Europe, and other OECD countries. The fund focuses on sustainable infrastructure in addition to traditional energy sectors. This reflects the industry's movement toward cleaner energy and low-carbon technologies. Projects financed by EPIC II will usually involve hard asset collateral, long-term contracts with reliable counterparties, and structured pricing protection. These elements are designed to lower downside risk and provide stable returns for investors.

Don Dimitrievich noted that infrastructure’s built-in resilience and the flexibility of the private credit model have greatly appealed to institutional investors worldwide. By using covenant protections and adaptable structuring, the fund balances security and opportunity. This aligns with investor goals for inflation protection and insulation from geopolitical risks. This strategy has become especially attractive in the current market, where demand for dependable energy supply and sustainable infrastructure is increasing.

Nuveen’s ranking as one of the top 20 global infrastructure managers boosts investor confidence in EPIC II. As of March 31, 2025, the firm managed over $35 billion in infrastructure assets, leveraging over 30 years of experience in both private debt and equity infrastructure investment. This extensive history in deploying capital for complex, capital-heavy projects gives Nuveen an edge in spotting high-quality opportunities and structuring deals that meet borrowers' and investors' needs.

The launch of EPIC II reflects a wider change in the energy investment landscape. The lines between traditional and renewable energy sectors are becoming less distinct. By focusing on a diversified mix of assets—from established hydrocarbons infrastructure to emerging renewable and storage technologies—Nuveen is positioning the fund to benefit from the changing global energy mix. The strategy emphasizes risk-adjusted returns and its ability to attract large-scale capital from a varied investor base, positioning it as an important player in addressing the infrastructure needs of a transitioning energy economy.

With the first close completed and fundraising ongoing toward the $2.5 billion target, EPIC II is ready to play a key role in financing critical energy and power projects worldwide. The fund can bridge the gap between traditional energy demands and the increasing need for sustainable, future-proof infrastructure investments. It is expected to attract more interest from institutional investors looking for both yield and impact. For Nuveen, the early strong response to EPIC II highlights its leadership in the infrastructure credit space and showcases the continuing investor interest in strategies that offer long-term stability, sustainability, and global reach.