Nuveen Infrastructure makes SRT investment tied to energy transition

Nuveen Infrastructure, a global infrastructure leader with $33.5bn in AUM announces a Significant Risk Transfer (SRT) investment tied to a £1.1bn reference portfolio. It is the third investment on behalf of its Energy Transition Enhanced Credit II strategy (ETEC II).

The £1.1bn reference portfolio, which is held by NatWest Bank, holds more than 35 project finance loans diversified across eight European countries. Those assets have an installed capacity of more than 9 GWs and cover key elements of the energy transition, including solar photovoltaic, offshore and onshore wind farms as well as other technologies including energy from waste, bioenergy, hydro and smart meters.

The deal is Nuveen Infrastructure's fourth SRT investment to date, and the third in the firm's ETEC II, which aims to partner with like-minded institutions to finance the energy transition in the U.K. and Europe.

Claudio Vescovo, Managing Director and Head of European Energy Transition Credit Funds at Nuveen Infrastructure, said: "We are pleased to have invested in our 4th SRT transaction adding a £1.1bn portfolio of loans to the existing assets in our diversified ETEC II. The investment continues to support our ambitions to offer investors the chance to participate in the energy transition whilst aiming to deliver sustainable and enhanced returns.

Our investors will now benefit from over 200 loans across a broad range of European energy transition infrastructure projects and Nuveen's 30 year experience in pioneering the infrastructure needs of a changing world. We believe now is a strong opportunity for investing in energy transition credit, the strategy benefits from current interest rate environment as well as the first mover advantage we have built on certain investment tools like SRTs."

To date, Nuveen Infrastructure's clean energy team has made credit investments across 10 European countries (Germany, France, Belgium, Sweden, Norway, Finland, Spain, Italy, Portugal & United Kingdom), providing exposure to more than 300 energy transition and infrastructure loans tied to over 1,500 renewable energy assets comprising a total installed capacity in excess of 18 GW.

For media please contact:

Charlotte Stickings
+44 7973 953675
[email protected]

About Nuveen Infrastructure:

Nuveen Infrastructure is the infrastructure investment arm of Nuveen, the investment manager of TIAA with USD 1.2 trillion in assets under management as of 31 March 2024. Nuveen's infrastructure platform is dedicated solely to investing in private infrastructure assets and companies. Building on the firm's long history of offering opportunities across a spectrum of difficult-to-access real asset classes - we invest across multiple strategies and sectors, including sustainable energy, digital, transportation, social infrastructure, and agribusiness. Our platform offers a diverse set of vehicles and customized strategies across equity and credit as well as deep expertise through an extensive operating partner network.

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