- Press Releases
July 28 (Renewables Now) - US speciality finance firm Galway Sustainable Capital Inc (GSC) said on Tuesday it has closed USD 265 million (EUR 224m) funding from Oaktree Capital Management LP.
As part of a funding partnership with Oaktree-managed funds, GSC has secured a minority equity investment and completed a multi-year, multi-tranche credit facility with the investment manager, according to the announcement.
Set up last year, GSC is private equity backed by lead investor Cordillera Investment Partners. It provides debt and equity investments typically of up to USD 50 million for distributed ESG (environmental, social and governance) projects across the US. The company’s focus includes distributed renewable energy, circular economy, carbon remediation and energy efficiency among others.
“Access to properly aligned early deployment capital continues to be a major challenge for emerging climatech and ESG companies,” commented GSC president and co-founder Trent Yang. GSC expects the Oaktree investment to help it improve capital access in distributed infrastructure projects across the US.
(USD 1 = EUR 0.847)