The global investment firm Carlyle (NASDAQ: CG) has made a strategic investment into North Bridge ESG LLC, a provider of real estate finance solutions, and also announced it will provide up to $1 billion to facilitate the origination of commercial property assessed clean energy (C-PACE) loans by North Bridge.
North Bridge provides C-PACE financing to institutional borrowers in major markets. The financing can be used for new construction projects, renovations, acquisitions, and retroactively for recapitalization opportunities.
“Carlyle’s $1 billion commitment to C-PACE, the largest to date, enables North Bridge to lead the transformation of the industry to better meet the needs of institutional sponsors and their lenders.” said Laura Rapaport, founder and CEO of North Bridge. “We are excited to partner with Carlyle, an established leader in the private credit space, given their exceptional track record of partnering with companies to drive growth.”
“We are pleased to bring together Carlyle’s significant expertise in asset backed finance and real estate credit to help commercial real estate owners address their financing needs,” said Akhil Bansal, head of credit strategic solutions at Carlyle. “North Bridge has a proven capability to deliver C-PACE financing solutions of substantial size to borrowers and sponsors, and we are excited to partner with them to drive growth in an increasingly important financing market.”
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