NEW YORK : Nuveen, a global investment manager, has acquired a majority interest in Ally Energy Solutions, LLC, a comprehensive energy solutions provider serving commercial and industrial (C&I) customers across the United States. The acquisition, made by Nuveen’s Private Equity Impact team, marks the sixth investment in Nuveen Climate Inclusion Fund II (NCIF II) and reinforces Nuveen’s commitment to promoting climate resilience through the decarbonization and modernization of the U.S. energy landscape.
Nuveen’s Climate Inclusion strategy seeks to address two of the greatest sustainable development challenges: climate change and inequality. By investing in businesses that drive an inclusive transition to a low-carbon economy, the strategy aims to generate strong financial returns while delivering measurable social and environmental impact.
Founded in 2014, Ally serves a unique segment of the market, executing complex energy projects nationally for large C&I clients. The company delivers turnkey power solutions, including distributed clean energy resources, power factor correction, back-up power generation, electrical infrastructure upgrades, and energy efficiency measures.
Following the transaction, Brian Walterbach will assume the role of Chief Executive Officer, succeeding Shane Mathis, who will transition into the role of Chief Strategic Officer. Mr. Walterbach has led day-to-day operations and sales at Ally and brings deep operational expertise and a compelling vision for the company’s future.
“Our national implementation capability has positioned Ally as a preferred long term execution partner for Fortune 500 clients seeking scalable, multi-site energy upgrades,” said Brian Walterbach. “Nuveen’s investment will accelerate our next phase of growth and impact, helping us expand our reach and deepen our ability to deliver measurable operating cost and emissions reductions for clients nationwide.”
“Continued growth in electrification, data centers, and advanced manufacturing is driving unprecedented demand for power and electrical services,” said Ted Maa, Managing Director of Private Equity Impact Investing at Nuveen. “Ally’s impressive results and growth to-date align well with our goal of providing clean, resilient power to mission-critical C&I end users. We’re thrilled to partner with management in this next phase of growth.”
To date, Ally has completed over 1,000 energy projects, resulting in approximately 578,000 tons of cumulative CO₂ emissions avoided, 60 MW of grid peak load reduction, $276 million in customer cost savings and $55 million in cash credits generated.
Nuveen has long been a leader in pursuing positive social and environmental impact alongside competitive financial returns across a broad range of asset classes, offering a range of investment opportunities that support positive outcomes in both private and public markets. As of June 30, 2025, Nuveen has deployed over $24.1 billion in direct impact holdings that deliver measurable social and environmental benefits to people, communities and the planet.
Gibson, Dunn, & Crutcher LLP served as legal counsel to Nuveen in connection with the transaction. FMI Capital Advisors acted as financial advisor and Dentons US LLP as legal advisor to Ally Energy Solutions.
Media Contact
Andrew Chironna | Andrew.Chironna@nuveen.com | 212-913-1015
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 30 June, 2025 and operations in 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
Nuveen, LLC provides investment solutions through its investment specialists.
Nuveen Climate Inclusion Fund II is only available to accredited investors.
