The Church Pension Fund, New York, which serves the Episcopal Church, made a $40 million investment in the New Energy Capital Infrastructure Credit Fund II, according to a news release by the pension fund.
New Energy Capital Partners is the manager of the infrastructure fund, which "will invest across clean energy infrastructure assets in North America," the news release said. The fund will invest in solar, wind, energy efficiency, storage and water assets.
This is the pension fund's first investment in New Energy Capital Partners, said C. Curtis Ritter, senior vice president and head of corporate communications, in an email.
"We look to building our relationship with (New Energy Capital Partners) as we continue to explore future impact investments that meet our goal of generating attractive returns with positive social impact," said Roger Sayler, executive vice president and chief investment officer, in the news release.
Mr. Ritter said that socially responsible investments represent about $1 billion of the Church Pension Fund's assets.
As of Dec. 31, the Church Pension Fund had $12.8 billion in retirement assets, primarily defined benefit assets.
