Nuveen, a global investment manager, has completed its first close with $1.3 billion of initial capital commitments to the Energy & Power Infrastructure Credit Fund II (EPIC II), a $2.5 billion target private credit strategy providing private infrastructure credit solutions to companies in support of the growing demand for energy and power arising from digitalization, electrification and the reindustrialization of North America, Europe and other OECD countries.

EPIC II delivers directly-originated credit solutions supporting the build-out of secure and reliable energy and power generation while also focusing on credit opportunities involving sustainable infrastructure. This multi-pronged approach invests across the entire energy and power ecosystem, from renewables and energy storage to hydrocarbons, midstream and liquified natural gas. Further, the strategy focuses on investments with projected strong cashflows while seeking to mitigate downside risks through hard asset collateral protection, long-term contracts with strong counterparties and strong pricing protection. EPIC II investments involve bespoke project and corporate financings to fund equipment and growth capital as well as acquisition financings, recapitalizations and structured credit solutions.

“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, Energy Infrastructure Credit. “Investors are increasingly interested in strategies that capitalize on their conviction in the growing global energy demand brought on by digitalization, electrification and reindustrialization while also seeking downside risk mitigation to guard against macro volatility, and inflationary and geopolitical risk. As we reach this latest milestone, we remain focused on deploying capital into resilient companies and projects across the energy and power ecosystem that capture this historic market opportunity while providing durable income potential.”

EPIC II is anchored by commitments from a leading Canadian pension fund manager and TIAA. With nearly half of the commitments coming from outside the US, the first close also includes a global roster of prominent institutional investors including global insurers, Japanese and Korean public and corporate pensions, asset managers and other limited partner investors. EPIC II employs the same strategy and builds on the strong track record of Energy & Power Infrastructure Credit Fund I (EPIC I).

Nuveen’s Energy Infrastructure Credit (EIC) platform is led by industry veteran Don Dimitrievich and supported by a team of 13 investment professionals with the senior members averaging 20 years of investment experience. The EIC team has collectively invested over $13 billion across multiple market cycles employing the same investment strategy utilized in EPIC I & II. With deep credit expertise and a time-tested investment approach, EPIC II offers investors access to one of the most sought-after asset classes at an attractive risk return balance.

Nuveen is a top 20 infrastructure manager¹. Its diversified infrastructure investing platform is built on more than 30 years of private debt and equity investing experience and has more than $35 billion of infrastructure assets under management as of 31 March 2025².

Source: Nuveen