Greenbacker named to ImpactAssets 50 2023 impact fund managers list
Company recognized for its track record in sustainable energy investment and projects that support green jobs
New York, NY, March 21, 2023 — Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading climate-focused investment manager and independent power producer, was recently named to the ImpactAssets 50 2023 (“IA 50”) list, a free publicly available, searchable database of impact investment fund managers for impact investors, family offices, corporations, foundations, and institutional investors.
“Greenbacker is honored to be recognized on such a prestigious list for our mission to empower a sustainable world by connecting individuals and institutions with investments in clean energy,” said Charles Wheeler, CEO of GREC. “As we continue to deliver for our investors, we’re proud to be part of this community of impact-driven fund managers whose business activities are changing our world for the better.”
In its twelfth year, the IA 50 continues to raise awareness of impact fund managers across impact areas, maturity, and geography, serving as a basis for deepening understanding of the field.
The IA 50 breaks out managers in three categories, including the core IA 50 list, IA 50 Emerging Impact Managers list and IA 50 Emeritus Impact Managers list. Across all three categories, a record 163 impact fund managers were included totaling $122.48 billion in assets, invested across a range of asset classes and impact themes. With well over a decade of sustainable infrastructure investment experience, Greenbacker was recognized in the core IA 50 category.
“This year’s IA 50 showcase is a watershed, as the industry continues to allocate more investable assets into social and environmental solutions with both time-tested strategies and creative, new approaches,” said Jed Emerson, ImpactAssets Senior Fellow, IA 50 Review Committee Chair and Chief Impact Officer at AlTi Global. “Established funds continue to impress, while new funds are bringing fresh approaches and insights that move the needle in critical areas through impact investing.”
Greenbacker’s fleet of clean energy projects comprises 3.1 GW of generating capacity (including DIA 9 and other assets that are to be constructed). Since June 2016, Greenbacker’s real assets have produced over 6.1 million megawatt-hours1 of clean energy, abating over 4.3 million metric tons of carbon.2 Today these projects support over 5,200 green jobs.3
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides asset management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its asset management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.
About the ImpactAssets 50
The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for donors and/or investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment opportunities. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.
The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement, or recommend specific products. Nor is this an endorsement of any of the listed fund managers. It is not a replacement for due diligence. To be considered for the IA 50 2023, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are available here.
The IA 50 Emerging Impact Managers list is intended to spotlight newer fund managers to watch that demonstrate potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.
The IA 50 Emeritus Impact Managers list illuminates impact fund managers who have achieved consistent recognition on the IA 50.
ImpactAssets is an impact investing trailblazer, dedicated to changing the trajectory of our planet’s future and improving the lives of all people. As a leading impact investing firm, we offer deep strategic expertise to help our clients define and execute on their impact goals. Founded in 2010, ImpactAssets increases flows of money to impact investing in partnership with our clients through our impact investment platform and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers. ImpactAssets has more than $2 billion in assets in 1,700 donor advised fund accounts, working with purpose-driven individuals and their wealth managers, family offices, foundations and corporations. ImpactAssets is an independent 501(c)(3) organization.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.
1 Data is as of December 31, 2022.