The Church Pension Fund Invests $40 Million in Funds Focused on Clean Energy Infrastructure Projects

The
Church Pension Fund (CPF), a financial services
organization that serves the Episcopal Church, announced that it
invested $40 million in the New Energy Capital Infrastructure Credit
Fund II, LP (Fund). The Fund will invest across clean energy
infrastructure assets in North America, including solar, wind, energy
efficiency, storage, and water. The Fund is managed by New
Energy Capital Partners, LLC (NEC), a leading alternative asset
management firm that invests across the capital structures of small and
mid-sized clean energy infrastructure projects and companies.

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Roger
Sayler, Executive Vice President and Chief Investment Officer of
CPF, said, “NEC has an experienced investment team with a proven track
record of delivering attractive risk-adjusted returns across multiple
renewable sectors through successive economic cycles. This investment
will support the development and operation of clean energy
infrastructure assets throughout North America. We look forward to
building our relationship with NEC as we continue to explore future
impact investments that meet our goal of generating attractive returns
with positive social impact.”

Scott Brown, Chief Executive Officer of NEC, said, “This Fund reflects
the growing interest from investors in the clean energy market. Our
investors are looking for investments that deliver strong risk-adjusted
returns, while also providing a positive environmental impact. We are
grateful for the support of The Church Pension Fund and we look forward
to expanding our relationship in the future.”

This transaction follows CPF’s prior socially responsible investments,
which include Avanath
Capital Management, Bridges
Fund Management, Cheyne Capital Management, Developing
World Markets, Shorenstein,
Social
Investment Managers & Advisors (SIMA), and SilverStreet
Capital.

CPF’s socially responsible investing (SRI) focuses on investments that
offer attractive risk-adjusted returns and also have a positive social
impact. CPF currently has socially responsible investments in 25
countries. CPF’s SRI-related investments focus on economically targeted
initiatives (urban redevelopment, affordable housing, sustainable
agriculture, and microfinance) and environmentally responsible programs
(sustainable forestry, clean technology, and green buildings).

Editor’s Note:

Individuals interested in learning more about CPF’s SRI efforts can
visit cpg.org/SRI.

About New Energy Capital Partners, LLC

New Energy Capital Partners, LLC (NEC) is a leading alternative asset
management firm that invests across the capital structures of small and
mid-sized clean energy infrastructure projects and companies. Since its
founding in 2004, NEC has participated in more than 25 transactions
across a broad array of industry verticals, including solar, energy
efficiency, storage, landfill gas, waste water treatment, and biofuels
totaling more than $3 billion in total asset value. NEC is headquartered
in Hanover, New Hampshire. newenergycapital.com

About The Church Pension Fund

The Church Pension Fund (CPF) is a financial services organization that
serves the Episcopal Church. CPF and its affiliated companies,
collectively referred to as the Church Pension Group, maintain three
lines of business—employee benefits, property and casualty insurance,
and publishing. They provide retirement, health, life insurance, and
related benefits for clergy and lay employees of the Episcopal Church,
as well as property and casualty insurance, and book and music
publishing, including the official worship materials of the Church.
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