26North Announces a Forward Flow Agreement with Renew Financial to Purchase up to $175 Million in Residential Property Assessed Clean Energy Assets

NEW YORK--(BUSINESS WIRE)--26North Partners LP (“26North”), the next-generation alternatives platform founded by Josh Harris, has closed on a forward flow agreement to purchase up to $175 million in Residential Property Assessed Clean Energy (“R-PACE”) assets originated by Renew Financial Group LLC (“Renew Financial”), a leader in sustainable home improvement financing.

26North’s Investment Grade Alpha (“IGA”) team led the transaction. IGA has deployed over $2 billion across renewable energy, consumer finance, residential and commercial real estate and digital infrastructure, underscoring the breadth and depth of the strategy.

“Our partnership with Renew reflects 26North’s edge: identifying distinct opportunities and crafting bespoke asset-backed finance solutions that fuel growth for our partners and deliver value for all stakeholders,” said 26North Partner Cole Charnas.

Renew Financial is a leading financing provider for sustainable residential upgrades. It administers the R-PACE program in Florida and California. Through property tax assessments, R-PACE enables homeowners to finance home improvements, including hurricane hardening, energy efficiency, renewable energy, water conservation and other resiliency projects. To date, Renew Financial has funded over $2 billion in R-PACE projects, contributing to significant greenhouse gas emission reductions, job creation and utility savings.

“We are pleased to partner with 26North to diversify our asset monetization strategy. This partnership will further support the continued growth and expansion of Renew Financial's R-PACE program in Florida and California,” said Vinay Gupta, CEO of Renew Financial. “This strategic move will allow Renew Financial to reach more homeowners, facilitating greater adoption of resilient, clean energy and energy-saving measures in residential properties.”

For more information about 26North, please visit 26N.com.

About 26North

26North Partners LP is an integrated, multi-asset class investment platform that provides investment advice and opportunities to its clients related to a variety of investment strategies, including, but not limited to, private equity, credit, and insurance and reinsurance solutions.

The 26North team brings decades of experience managing third-party capital to help clients achieve their financial goals while leaving a lasting impact on the communities where it operates. Since launching in late 2022, 26North has grown to approximately $28 billion in assets under management.

About Renew Financial

Renew Financial Group LLC (Renew Financial) is a leading R-PACE financing provider in Florida and California. Focusing on community impacts, Renew Financial is committed to driving resiliency and environmentally beneficial projects through the residential PACE program. Renew Financial has funded more than $2 billion in R-PACE projects that have led to greenhouse gas reductions (GHGs) of over 2 million metric tons, equivalent to removing over 424,000 cars from the road. These projects have also contributed to the creation of nearly 27,000 local jobs and savings of over 2.6 billion gallons of water. Renew Financial is a trademark of Renew Financial Holdings, Inc. Visit us on social media: Facebook, LinkedIn, or Instagram.