Carlyle, a major investment company, has acquired a minority share in North Bridge ESG LLC. This finance firm specializes in providing private credit loans to landlords for clean energy projects. As part of the deal, Carlyle has also committed up to $1 billion to help North Bridge offer commercial property-assessed clean energy (C-PACE) loans.
North Bridge is known for its C-PACE financing services offered nationwide to institutional borrowers. Laura Rapaport, Founder and CEO of North Bridge expressed her excitement about the partnership with Carlyle and their commitment towards C-PACE financing which is the largest one so far. She believes this will lead to industry transformation and better cater to institutional sponsors and lenders.
The legal advisors involved in this transaction were Paul Hastings LLP representing Carlyle while Latham & Watkins LLP and Chapman & Cutler LLP represented North Bridge.
