09 Feb 2022
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Nuveen announces final closing of inaugural Global Private Equity Impact Fund
Nuveen, a leading global investment manager with over $1.3 trillion of assets under management, announced today the final close of the Nuveen Global Impact Fund, LP and affiliated entities (the “Fund”). The Fund, which is the first private equity impact fund raised by Nuveen, has secured a total of $218M from a diverse mix of global investors, with the aim of generating strong financial returns and addressing two of the greatest sustainable development challenges: climate change and inequality.
“Nuveen has been at the forefront of impact investing for decades, and there is an immediate opportunity to drive positive influence on some of world’s most pressing problems relating to climate change and inequality,” said Rekha Unnithan, CFA, co-head of private markets impact investing at Nuveen. “We are proud to build on our momentum from our initial fund closing in 2020 and look forward to engaging with more companies that meet our investors’ values and market views.”
The Fund will target investments that enable disruptive businesses to reduce waste and use resources in a circular manner, improving energy efficiency and reducing emissions. In addition, the Fund will target investments that expand access to and reduce the cost of basic products and services for underserved consumers. Nuveen takes an active approach to impact management, working with portfolio companies to both better understand the social and environmental outcomes of their companies’ products, services, and operations; and actively working with them to improve those outcomes.
“There are many rapidly-growing, dynamic, and profitable businesses globally that are disrupting traditional supply chains and leveraging technology to deliver products and services that fill basic needs to underserved customers,” said David Haddad, co-head of private markets impact investing at Nuveen. “We believe that there are strong financial returns that can be generated by adeptly identifying and supporting those innovative companies globally that are successfully targeting these two macro themes.”
Nuveen is a pioneer in impact investing, with a strong track-record of driving strong financial results and an overall, positive influence for society’s most pressing problems. The firm made its first impact investment in the 1980s and has since invested over $500 million in direct and indirect private equity capital across over 200 portfolio companies in alignment with the United Nations Sustainable Development Goals. Today, Nuveen manages over $5.8 billion across all of its public and private markets impact investing strategies.
To learn more about Nuveen’s Global Impact Strategy, please click here. Additional information about Nuveen’s first two deals out of the Nuveen Global Impact Fund can be found here: Annapurna and Advanced Battery Concepts.