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Carlyle Buys Stake in Real Estate Finance Firm North Bridge
Investment giant Carlyle is buying a minority stake in North Bridge ESG LLC, a finance firm that focuses on private credit lending to landlords for clean energy projects. The transaction also includes Carlyle committing up to $1 billion to facilitate the origination of commercial property-assessed clean energy (C-PACE) loans by North Bridge.
North Bridge provides C-PACE financing to institutional borrowers nationwide. “Carlyle’s $1B commitment to C-PACE, the largest to date, enables North Bridge to lead the transformation of the industry to better meet the needs of institutional sponsors and their lenders,” said Laura Rapaport, Founder and CEO of North Bridge. “We are excited to partner with Carlyle, an established leader in the private credit space, given their exceptional track record of partnering with companies to drive growth.”
Paul Hastings LLP served as legal advisor to Carlyle in connection with the transaction. Latham & Watkins LLP and Chapman and Cutler LLP served as legal advisors to North Bridge in connection with the transaction.
