True Green Capital Management has exceeded its $350 million fundraising target for True Green Capital Fund III.
Fund III includes a diversified institutional investor base of leading endowments, foundations, investment advisers’ clients, fund-of-funds, family offices and insurance companies.
TGC seeks to deliver superior risk-adjusted returns and has developed a scalable, proprietary organizational and portfolio construction process that aims to combine the certainty of long-term fixed-price contracts with highly rated creditworthy partners augmented by the upside offered by power sales, environmental credits and real asset optionality. As part of this process, TGC has developed a privately negotiated pipeline of approximately $1.5 billion in projects.
To date, TGC has deployed approximately 30 percent of its Fund III capital in a portfolio of pre-identified projects, continuing its innovative investment strategy of self-originating, building and financing renewable energy electric power infrastructure projects. The existing investment portfolio consists of commercial and sub-utility scale solar power plants, including one of the largest rooftop installations in the world. The projects have contracted off-take agreements providing municipal utilities, military bases, universities and corporate clients with clean, renewable energy at a fixed price. True Green Capital expects to deploy Fund III over the next one to two years across similar investment opportunities in the United States.
Fund III followed its predecessor Fund II, which closed in 2015 and is fully invested.
