Nuveen, an investment manager, announced that it has raised approximately $200 million at the first close of its second global climate inclusion private equity strategy, which aims to invest in solutions to sustainable development challenges such as climate change and inequality.
Nuveen’s second climate inclusion strategy will build on the company’s first private equity impact strategy, which launched in 2021. The initial strategy raised $218 at the final close and has invested in eight global businesses since its inception.
According to Nuveen, the new fund will prioritise climate inclusion in key global growth markets, with investments aimed at mitigating climate change, providing access to basic financial services, and leveraging relationships with low-income consumers to build climate resilience.
The company’s Global Climate private equity series complies with SFDR Article 9 and is a signatory to the Operating Principles for Impact Management.
Rekha Unnithan, Head of Private Equity Impact at Nuveen, stated:
“We believe that climate change and inequality, two of the biggest challenges the world faces, can be addressed by commercial businesses. The changing regulatory environment and shifts in consumer sentiment means overcoming those challenges also presents a compelling investment opportunity. As a longtime leader in impact investing, we look forward to leveraging our years of experience and $1bn track record to target positive returns for our investors and the world we live in.”
The fund received commitments from a variety of global investors, including the Danish pension fund Velliv.
Anders Stensbøl Christiansen, Chief Investment Officer at Velliv, stated:
“At Velliv, we have been investing in Nuveen’s Impact funds for many years, as we believe that impact investing demonstrates how generating returns can go hand in hand with addressing the world’s challenges, whether they are social, environmental or a combination of both. Nuveen Private Equity Impact enables Velliv to achieve a global reach in our impact portfolio, delivering returns and measurable impact across several SDGs through both socially and environmentally focused investments.”