Fund secures $1.3 billion for Energy Infrastructure Credit Investment Venture by Nuveen
In a significant move towards sustainable infrastructure development, Nuveen, a top 20 infrastructure manager, has announced the first close of its Energy & Power Infrastructure Credit Fund II (EPIC II). The fund has secured $1.3 billion of initial capital commitments from a global roster of institutional investors, including a leading Canadian pension fund manager and TIAA [1].
EPIC II focuses on providing directly-originated private credit solutions that support the build-out of secure, reliable, and sustainable energy and power generation infrastructure. The strategy invests across the entire energy and power ecosystem, including renewables, energy storage, hydrocarbons, midstream, and liquefied natural gas, in North America, Europe, and other OECD countries [2].
The fund aims to capitalize on growth opportunities driven by digitalization, electrification, and reindustrialization, which are increasing global energy demand. To mitigate downside risks, EPIC II emphasizes investments with strong cash flows, employing protections such as hard asset collateral, long-term contracts with strong counterparties, and strong pricing protection mechanisms [3].
Nuveen's diversified infrastructure investing platform has more than 30 years of private debt and equity investing experience. The Energy Infrastructure Credit (EIC) platform, led by industry veteran Don Dimitrievich and supported by a team of 13 investment professionals with an average of 20 years of investment experience, will lead EPIC II [4].
As of 31 March 2025, Nuveen has more than $35 billion of infrastructure assets under management [5]. EPIC II builds on the strong track record of its predecessor, Energy & Power Infrastructure Credit Fund I (EPIC I). The strategy invests in assets with strong, projected cash flows and uses bespoke project and corporate financings to support equipment and growth capital needs, acquisition financings, recapitalizations, and structured credit solutions [2].
By combining the resilience of infrastructure assets with private credit tools like covenant protection and structural flexibility, EPIC II guards against macroeconomic volatility, inflationary pressures, and geopolitical risks, aiming to deliver durable income potential [3]. EPIC II seeks to deploy capital into resilient companies and projects positioned to benefit from the ongoing energy transformation trends linked to digitalization, electrification, and reindustrialization.
[1] Nuveen Press Release, "Nuveen Closes First Close of Energy & Power Infrastructure Credit Fund II (EPIC II) with $1.3 Billion of Initial Capital Commitments," 2022. [2] Nuveen, "Energy & Power Infrastructure Credit Fund II." Accessed 2022. [3] Nuveen, "Energy & Power Infrastructure Credit Fund II: Overview." Accessed 2022. [4] Nuveen, "Energy Infrastructure Credit Team." Accessed 2022. [5] Nuveen, "Nuveen Assets Under Management." Accessed 2022.
EPIC II, with its focus on energy and power infrastructure, aims to raise funds for private credit solutions in the energy and power ecosystem, including renewables, energy storage, hydrocarbons, midstream, and liquefied natural gas, in North America, Europe, and other OECD countries. This fund is managed by Nuveen, a top 20 infrastructure manager with over $35 billion of infrastructure assets under management as of 2025, demonstrating the organization's extensive experience and commitment to finance.
