Voya IM gets to USD-300m closing of renewables financial debt fund

Jun 11, 2021 11:21 AM ET
  • The possession management arm of investment as well as insurer Voya Financial Inc (NYSE: VOYA) has finished the first close of its new renewables-focused framework financial obligation fund, getting over USD 300 million (EUR 246.7 m) in dedications.
Voya IM gets to USD-300m closing of renewables financial debt fund
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The financial debt fund, taken care of by the private credit report platform of Voya Investment Administration (Voya IM), will certainly target project funding in the renewable energy field, Voya Financial stated on Thursday.

The group anticipates that the property administration subsidiary will certainly make between 12 and also 18 renewable energy-related financial investments, most of which in the US. Approximately fifty percent of the forecast purchases are seen to entail solar and also wind power projects, while the rest will certainly be connected to financing lasting facilities tasks such as battery storage space and also renewable gas.

To day, Voya IM has actually made 3 renewable resource infrastructure financial investments. Among them is an agreement from last June for USD 30 million in the red to Bakersfield Renewable Fuels for retrofitting a crude oil refinery to produce sustainable diesel.

"Going forward, our company believe the development of our broadened leveraged debt group will permit us to raise our existence and also overall task in center market borrowing and also supply customers with differentiated item services [.]," stated Matt Toms, primary financial investment officer at Voya IM.