Nuveen fund acquires majority stake in Ally

Global investment manager Nuveen has announced the acquisition of a majority stake in the US-based commercial and industrial (C&I) energy solutions provider, Ally Energy Solutions. The acquisition was executed by Nuveen’s Private Equity Impact team via the [Nuveen Climate Inclusion Fund II](https://www.esgtoday.com/nuveen-raises-200-million-for-private-equity-climate-impact-strategy/) (NCIF II). This fund is part of Nuveen’s Climate Inclusion strategy, which seeks to tackle climate change and inequality by investing in businesses that contribute to a low-carbon economy while ensuring robust financial returns.

Established in 2014, Ally Energy Solutions specialises in large-scale energy projects for C&I clients. Their services include distributed renewable energy, efficiency upgrades, electrical infrastructure improvements, power factor correction, and backup generation. These solutions are designed to enhance the energy and operational efficiency of facilities, reduce carbon footprints, and assist clients in achieving sustainability objectives.

Ted Maa, Managing Director of Private Equity Impact Investing at Nuveen, commented on the acquisition, stating: “Continued growth in electrification, data centres, and advanced manufacturing is driving unprecedented demand for power and electrical services. Ally’s impressive results and growth to-date align well with our goal of providing clean, resilient power to mission-critical C&I end users.”

Ally has successfully completed more than 1,000 projects, resulting in an estimated avoidance of 578,000 tons of CO2 emissions. Additionally, the company has achieved a 60-megawatt reduction in peak demand, generated $276 million in client savings, and produced $55 million in credits.

As part of the transaction, Ally’s Chief Operating Officer, Brian Walterbach, will assume the position of Chief Executive Officer, succeeding Shane Mathis, who will transition to the role of Chief Strategic Officer. Walterbach expressed optimism about the investment, stating: “Nuveen’s investment will accelerate our next phase of growth and impact, helping us expand our reach and deepen our ability to deliver measurable operating cost and emissions reductions for clients nationwide.”