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New York, August 2025 — Nuveen, a leading global investment manager, has announced the successful first close of its Energy & Power Infrastructure Credit Fund II (EPIC II), raising $1.3 billion in initial commitments toward a $2.5 billion target. The fund is designed to deliver tailored private credit solutions across the energy and sustainable infrastructure sectors, responding to surging global demand for resilient and future-ready energy systems.
💼 Strategic Focus and Investment Scope
EPIC II targets a broad spectrum of energy infrastructure opportunities, including:
- Renewable energy generation
- Energy storage systems
- Hydrocarbons and midstream operations
- Liquefied natural gas (LNG)
- Sustainable infrastructure projects
The strategy emphasizes risk mitigation through structured protections such as hard asset collateral, long-term contracts with high-quality counterparties, and pricing safeguards. These features aim to deliver stable returns while insulating investors from inflationary and geopolitical pressures.
🌍 Global Investor Backing
The fund has attracted commitments from a diverse group of institutional investors, including:
- A leading Canadian pension fund manager
- TIAA, Nuveen’s parent company
- Multiple insurers and pension funds from Japan, Korea, and Europe
Notably, nearly half of the capital raised in the first close originates from investors outside the United States, underscoring the fund’s global appeal.
🗣 Leadership Perspective
“Bringing together the resiliency of infrastructure assets and the private credit playbook that utilizes covenant protection and structural flexibility has unlocked a strong level of investor demand across the globe,” said Don Dimitrievich, Senior Managing Director & Portfolio Manager of Energy Infrastructure Credit at Nuveen.
He added that EPIC II aligns with macroeconomic trends such as digitalization, electrification, and the reindustrialization of OECD economies, offering investors exposure to essential infrastructure with built-in downside protection.
📈 Building on a Proven Track Record
EPIC II builds on the success of its predecessor, EPIC I, and is managed by Nuveen’s seasoned Energy Infrastructure Credit team. The team has deployed over $13 billion across multiple market cycles and brings more than 30 years of experience in private debt and equity infrastructure investing.
As of March 31, 2025, Nuveen ranks among the top 20 global infrastructure managers, with over $35 billion in infrastructure assets under management.
