Nuveen Raises $170m for Impact Credit Strategy

credit: Flickr photo by Rob Brooks

Asset manager Nuveen says it has raised $170m for a new fund that aims to make a positive impact on the world, the Guardian reports.

The fund, called the Nuveen Climate and Social Credit Fund, will invest in a variety of areas, including affordable housing, community development, climate change, and reducing social inequality.

"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," says Jessica Zarzycki, Nuveen's portfolio manager of the global credit impact strategy.

The fund is the fourth in Nuveen's impact range, the Guardian notes.

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