Our story
Our story
Nuveen Green Capital started as Greenworks Lending and was launched in 2015 to expand the impact of C-PACE. Co-founders, Jessica Bailey and Alexandra Cooley, met in 2012 while developing and launching the Connecticut C-PACE program at the Connecticut Green Bank. Soon the program was growing rapidly and had become the standard for C-PACE programs across the country. This growth reinforced their conviction that C-PACE could scale energy efficiency in commercial buildings and new developments around the country, driving benefits for local businesses, energy security, and the environment. With Nuveen Green Capital, they have proven that clean energy and energy efficiency investments are smart business decisions for all types of commercial real estate developers and building owners across the country.
Since its inception in 2015, Nuveen Green Capital has been a leader in the C-PACE industry. In 2017 it completed the industry’s first rated securitization of C-PACE assets, and in December of 2018 it completed its second rated securitization, the only provider of C-PACE financing to ever do so.
In early 2021, Greenworks Lending was acquired by Nuveen where they found the ideal partner with a shared philosophy to help further its mission and expand C-PACE to more property owners through Nuveen’s strong brand, diversified investment expertise, global reach, and 50-year heritage of responsible investing. Soon after, Greenworks Lending became Nuveen Green Capital.
Our Timeline
2014
First Successful
C-PACE Program
Future Greenworks leaders Bailey, Cooley, and Sherman, with CT Green Bank team, launch and lead first successful C-PACE program
2015
Greenworks
Lending is Founded
and raises initial equity round. With the goal of spreading C-PACE throughout the United States, Greenworks closes its first deal in July of 2015
2016
Greenworks Expansion
Greenworks begins lending outside of Connecticut closing deals in Maryland, DC, and Wisconsin, and opens Bethesda, MD office
2017
Industry Leader
Greenworks doubles its team, closes deals in 9 states, including its 100th deal, and issues the United States' first rated (AA) commercial PACE securitization, establishing the asset class
2018
Greenworks
secures $40M
in corporate investment, moves into 15 states, and closes its second securitization and hits $100M in deals closed
2019
Continued Growth
California office opens, large deal products launch, Greenworks receives S&P Green Evaluation, is actively originating in over 20 states, closes 297 deals and grows team to 35
2020
Scaling Up
Greenworks hits just under $200M in closed deals, was active in 25 states and grew to 48 employees
2021
Acquisition
In early 2021 Greenworks was acquired by Nuveen - a huge milestone for Greenworks and the C-PACE industry. Greenworks also closes its first 144A transaction
2022
Rebrand
In January of 2022 Greenworks Lending became Nuveen Green Capital, and surpassed $1B in total originations during Q4
2023
Launched first Lending Fund, surpassed $2 billion in originations
2024
Surpassed $3 billion in originations
2014
First Successful
C-PACE Program
Future Greenworks leaders Bailey, Cooley, and Sherman, with CT Green Bank team, launch and lead first successful C-PACE program
2015
Greenworks
Lending is Founded
and raises initial equity round. With the goal of spreading C-PACE throughout the United States, Greenworks closes its first deal in July of 2015
2016
Greenworks Expansion
Greenworks begins lending outside of Connecticut closing deals in Maryland, DC, and Wisconsin, and opens Bethesda, MD office
2017
Industry Leader
Greenworks doubles its team, closes deals in 9 states, including its 100th deal, and issues the United States' first rated (AA) commercial PACE securitization, establishing the asset class
2018
Greenworks
secures $40M
in corporate investment, moves into 15 states, and closes its second securitization and hits $100M in deals closed
2019
Continued Growth
California office opens, large deal products launch, Greenworks receives S&P Green Evaluation, is actively originating in over 20 states, closes 297 deals and grows team to 35
2020
Scaling Up
Greenworks hits just under $200M in closed deals, was active in 25 states and grew to 48 employees
2021
Acquisition
In early 2021 Greenworks was acquired by Nuveen - a huge milestone for Greenworks and the C-PACE industry. Greenworks also closes its first 144A transaction
2022
Rebrand
In January of 2022 Greenworks Lending became Nuveen Green Capital, and surpassed $1B in total originations during Q4
2023
Launched first Lending Fund, surpassed $2 billion in originations
2024
Surpassed $3 billion in originations