$1.2 Trillion Asset Manager Nuveen Launches New $170 Million Measurable Social & Environmental Credit Fund Global Credit Impact Strategy Investing in Investment Grade Corporates & Other Credit Sectors, Global Investors Include Parent Company TIAA & Norway Gjensidige Pensjonsforsikring, New Fund Co-Managed by Nuveen Portfolio Manager Jessica Zarzycki & Head of Fixed Income Impact Stephen Liberatore
14th October 2024 | Hong Kong
United States asset manager Nuveen ($1.2 trillion AUM) has launched a new $170 million measurable social & environmental credit fund Global Credit Impact Strategy, investing in investment grade corporates & other credit sectors. The $170 million fund launch was raised from global investors including Nuveen parent company TIAA & Norway Gjensidige Pensjonsforsikring. The fund is co-managed by Nuveen Portfolio Manager Jessica Zarzycki & Head of Fixed Income Impact Stephen Liberatore. Nuveen (13/10/24): “Nuveen, the $1.2 trillion global asset manager, has launched a Global Credit impact strategy with the aim of generating long term returns while seeking to create a direct, measurable social and environmental impact. It has been launched with investment around $170 million from a range of global investors, including Gjensidige Pensjonsforsikring* and Nuveen’s parent company TIAA. The Global Credit impact strategy, which is the latest in a series of launches from Nuveen’s $413 billion fixed income platform, draws upon the firm’s deep sector expertise and long history of managing fixed income portfolios focused on sustainability. It will seek to provide investors with access to investment grade corporates and other credit sectors designed to deliver alpha and total return. Investments in the portfolio will include exclusive use of proceeds benefiting environmental or social outcomes, and from issuers with commitment and an ability to deliver transparent impact reporting. It will aim to address real world issues such as access to affordable housing and community development, as well as environmental issues ranging from climate change to the regeneration of natural resources. Nuveen’s ability to be at the cutting-edge of responsible and sustainable investment across fixed income is driven by its proprietary impact investing framework and its proactive engagement with issuers. The framework, which was established in 2007, identifies impact investments across global fixed income markets based on a range of direct and measurable criteria. Alongside Nuveen’s parent company TIAA, Gjensidige’s decision to invest is further testament to Nuveen’s deep understanding of the fixed income impact market, having been at the forefront of product innovation over the years. This includes, but is not limited to, being anchor investors to the World Bank’s Rhino Bond, the Seychelles Blue Bond, Barbados Blue Bond and, most recently, the Amazon Reforestation Bond.” *Gjensidige Pensjonsforsikring is a wholly owned subsidiary of Gjensidige Forsikring ASA; a leading general insurance company in the Nordics aimed at the life- and pension business, focused on sales of defined contribution plans.
“ $1.2 Trillion Asset Manager Nuveen Launches New $170 Million Measurable Social & Environmental Credit Fund Global Credit Impact Strategy Investing in Investment Grade Corporates & Other Credit Sectors, Global Investors Include Parent Company TIAA & Norway Gjensidige Pensjonsforsikring, New Fund Co-Managed by Nuveen Portfolio Manager Jessica Zarzycki & Head of Fixed Income Impact Stephen Liberatore “
Anders Persson, CIO of Global Fixed Income, Nuveen: “Growing our fixed income platform and specialist range are cornerstones of our continued international expansion as a truly global asset management business. Nuveen has a deep history of being at the forefront of product innovation, from our founder John Nuveen pioneering the municipal bond market as a means of financing US infrastructure, to our work in green, blue and orange bonds in recent years. This launch is just the next step in Nuveen’s continued growth in terms of offering alongside further partnering with like-minded investors across the world who share in our vision of investing to make an enduring impact on the world.
Jessica Zarzycki, Portfolio Manager of the Global Credit Impact Strategy: “The strategy will seek to not only consistently outperform the global corporate bond market on an excess and risk-adjusted basis, but also aim to lower the cost of capital for environmental and social projects by funding initiatives through the easily accessible, liquid public fixed income markets. We are encouraged by the level of client interest in the strategy at launch and their belief in our position as an innovator in impact investing.”
Åge Sætrevik, CIO at Gjensidige Pensjonsforsikring: “We had been searching a like-minded partner for our global impact credit allocations long before launching sustainable pension profiles in Norway two years ago with the goal of broadening our SFDR Article 9 offering and having a positive world impact. By partnering with Nuveen to invest in the Global Credit Impact strategy, we are providing our clients with innovative, sustainable pension saving options different. Since launching the service, we have seen strong interest and are encouraged by how highly valued the impact sector is to our clients.”
Jessica Zarzycki, Portfolio Manager – Jessica is a portfolio manager for Nuveen’s global fixed income team. She is an integral part of the ESG/Impact fixed income and International strategy teams and a lead portfolio manager for the Global Core Impact strategy and a co-portfolio manager on Core Impact Bond, Green Bond, Emerging Markets Impact Bond, and Short Duration Impact Bond strategies. She is a frequent panellist and speaker at ESG and Impact conferences. She serves on the Steering Committees of the Orange Bond Principals and was a member of the ICMA Advisory Board (2020-21), which provides insight and guidance to the Executive Committee on issues affecting the Green, Social, and Sustainable Bond markets.
Stephen Liberatore, Head of Fixed Income Impact – Steve is the lead portfolio manager for Nuveen’s fixed income strategies that incorporate Environmental, Social and Governance (ESG) criteria and Impact investments. He is also a member of the Investment Committee. Steve was a member of the ICMA Green Bond Principles initial executive committee and subsequently its Advisory Council. He serves on the Steering Committees of the Debt Conversion for Nature and Climate Practice Standards and the Orange Bond Principals. He is also a member of the UN Capital Development Fund’s working group on Climate Resilient Infrastructure Finance, Sustainalytics’ Investor Committee and the board of the Fixed Income Analysts Society, Inc.. He is a frequent speaker at conferences and a subject matter expert across media outlets. Steve and his team were awarded “ESG Fund of the year –fixed income” at Environmental Finance’s (EF) 2024 Sustainable Investment Awards in addition to “Investment team of the year –asset manager” and “Fund of the year –fixed income” at Environmental Finance’s (EF) 2023 Impact Awards. Previously, Steve and team were recognized as “Investor of the Year” (EF 2020 Bond Awards) and “Impact Report of the Year (for Investors)” (EF 2022 Bond Awards).
Nuveen – Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.2 trillion in assets under management as of 30 June 2024 and operations in 27 countries.
$1.2 Trillion Asset Manager Nuveen Launches New $170 Million Measurable Social & Environmental Credit Fund Global Credit Impact Strategy Investing in Investment Grade Corporates & Other Credit Sectors, Global Investors Include Parent Company TIAA & Norway Gjensidige Pensjonsforsikring, New Fund Co-Managed by Nuveen Portfolio Manager Jessica Zarzycki & Head of Fixed Income Impact Stephen Liberatore
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