Forest Road Launches CenterNode, with up to $750 Million in Capital Commitments from Institutional Investors, including Liberty Mutual Investments

Seth Zeleznik, veteran investment executive and founder of CenterNode, leads the platform to finance U.S. renewable energy development

LOS ANGELES--(BUSINESS WIRE)--The Forest Road Company ("Forest Road") today announced the launch of CenterNode Group ("CenterNode"), its dedicated alternative energy investment arm, alongside up to $750 million in initial capital commitments from institutional investors, including Liberty Mutual Investments (“LMI”), the investment firm for Liberty Mutual. LMI’s commitment will support the scaling of CenterNode’s platform as it addresses the widening gap in the U.S. solar and infrastructure market. Seth Zeleznik, a 20-year veteran of private credit, private equity, and sustainable infrastructure, serves as CEO and Founder of CenterNode and will lead the platform's investment strategy and day-to-day operations.

CenterNode is an opportunistic energy and infrastructure investment platform built on a simple conviction: the transition to energy independence demands a new kind of capital partner. The platform aims to deploy flexible capital across the capital structure and the alternative energy ecosystem, including developers, projects, and assets ranging from $5 million to $50 million. CenterNode will initially deploy capital across U.S. solar and storage, with plans to expand into additional energy and infrastructure subsectors as it scales.

"The U.S. energy transition is entering its most capital-intensive phase at precisely the moment when traditional lenders have stepped back," said Seth Zeleznik, CEO and Founder of CenterNode. "We built CenterNode to be the flexible, institutional-grade capital partner that developers and project owners need right now—one that can move quickly, structure creatively, and execute with certainty."

LMI invests more than $124 billion of long-term capital globally across its integrated platform on behalf of Liberty. As a long-term, partnership-oriented investor, LMI works side by side with sponsors and operators to build enduring businesses, providing flexible capital and tailored solutions to support partners across market cycles. The firm’s Alternative Credit platform provides bespoke asset financing solutions across the capital structure and public and private markets, targeting opportunities where it can be a differentiated solutions provider.

“The energy market is at a pivotal moment, with power demand accelerating while available financing has failed to keep pace,” said Charley Poole, Head of Energy & Infrastructure at Liberty Mutual Investments. “Meeting that demand will require significant capital to accelerate development across the energy landscape, creating opportunities where LMI can be a constructive capital partner to infrastructure platforms like CenterNode.”

“We believe CenterNode is well-positioned against this current backdrop to deliver flexible, solutions-oriented capital to solar developers navigating an increasingly complex financing landscape,” said John Kim, Head of Alternative Credit at Liberty Mutual Investments. “We’re excited to partner with CenterNode and leverage our long-term capital and integrated investment platform to help scale the business.”

About Seth Zeleznik and the CenterNode Leadership

Seth Zeleznik, who serves as CEO and Founder of CenterNode, brings 20 years of experience across private credit, private equity, and sustainable infrastructure. Most recently, he advised Apollo Global Management's Sustainable Infrastructure Group following its acquisition of Irradiant Partners, where he served on the Management Committee and Investment Committees for renewables private equity, sustainable infrastructure credit, and opportunistic credit funds. Prior to that, Seth held senior roles as a Managing Director at Blackstone and as a Senior Managing Director at Kayne Anderson.

Zachary Tarica, who serves as Chairman of CenterNode and CEO of Forest Road, previously led Brookfield Asset Management's strategic renewables investments, including the landmark $7.9 billion acquisition of the TerraForm companies out of the SunEdison bankruptcy—one of the most significant renewable energy transactions in history.

"The energy transition is the most consequential infrastructure build-out this country has undertaken in decades. Getting the financing right—especially at the small and mid-market level—is not just a business opportunity. It is essential to keeping the U.S. competitive," said Tarica.

About CenterNode Group

CenterNode Group (“CNG”) is Forest Road's dedicated alternative energy investment platform, providing flexible, structured capital solutions to projects, developers, and operating companies across the power and infrastructure ecosystem. CNG operates as a relying adviser under Forest Road Asset Management, LLC, an SEC-registered investment adviser. For more information, visit www.thecenternode.com.

About The Forest Road Company

The Forest Road Company ("Forest Road") is an opportunistic investment firm focused on Media, Renewable Energy, and Digital Assets. The firm deploys capital across public and private markets through its balance sheet, asset management platform, and advisory capabilities, pursuing special situations where flexibility, speed, and sector expertise create a distinct advantage. For more information, visit www.forestroadco.com.

About Liberty Mutual Investments

Liberty Mutual Investments (“LMI”) is the investment firm for Liberty Mutual Group (“Liberty”), a global insurance and capital solutions partner. With deep expertise in liquid, credit, and alternative strategies, LMI invests more than $124B of capital globally, taking a long-term approach across its integrated platform. LMI has a clear purpose: build enduring businesses side-by-side with our partners, drive economic growth, and generate superior risk-adjusted returns that power Liberty’s strategy and secure its promises.

Liberty Mutual Group Asset Management Inc. does business under the name Liberty Mutual Investments. For more information, visit https://www.libertymutualinvestments.com/.