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True Green Capital Management LLC

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

True Green Capital Management LLC (“TGC”) is a specialized energy infrastructure asset management firm based in Westport, Connecticut with several private equity funds under management.  TGC has invested into a distributed solar power generation portfolio across thirteen U.S. states including Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, South Carolina, Tennessee, Idaho, California, Maryland, and Colorado.  The firm was founded in July 2011 and is led by a team of investment professionals with a proven investment track record and a demonstrated capacity to originate, finance, construct, and operate distributed power generation investments.
TGC believes the continued increase of power prices and decreasing entry costs of distributed power generation technology will continue to lead to compelling investment opportunities which provide a stable cash flow stream with little to no correlation to the broader markets.
TGC is currently focused on the approximately $2 trillion distributed power generation market with an emphasis on the sub utility scale solar power segment. Thanks to rapid advancements in technology, the cost of distributed power generation, including solar, is now on par with traditional electricity generation sources and in many U.S. states it represents one of the few sources of new power generation infrastructure that can be added to the power network quickly, reliably, and cost efficiently.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

32 FTE

02.4. Additional information. [Optional]

As of 4Q 2019 TGC has a team of 19 experienced investment professionals, back office and operating personnel that focus on investment origination, due-diligence, transaction execution, financing, risk management and back office operations. The Manager also has a wholly-owned subsidiary, Distributed Asset Solutions (“DAS”), more fully described in Question 6, below. DAS has 13 operations personnel including project managers, engineers and master electricians, within the asset management group.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

In terms of the firm’s culture, TGC team members are specialists that work together as a cross-functional team including 1) Relationship and project origination; 2) Deal development; 3) Financial & legal structuring; 4) Operations management – equipment procurement & construction; 5) Financing; 6) Risk management & commodity hedging; 7) Firm operations & back office. While each team member is focused on a key element of TGC’s operating solar business, the team sits together around a trading floor to facilitate interaction and cross-functional teamwork.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure >50% 100 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

TGC has demonstrated its institutional approach to origination through development, investment and management of its approximately 560 MWs of U.S. distributed  Commercial and Industrial ("C&I") PV solar power generation projects including a standalone portfolio of Solar Renewable Energy Credits ("SRECs") of approximately 130 MWs of diversified PV solar power systems, development and construction-ready projects.

 

OO 07. Fixed income AUM breakdown (Not Applicable)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

100 Developed Markets
0 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

True Green Capital Management LLC (“TGC”) is a specialized energy infrastructure asset management firm based in Westport, Connecticut with several private equity funds under management.  TGC has invested into a distributed solar power generation portfolio across thirteen U.S. states including Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, South Carolina, Tennessee, Idaho, California, Maryland, and Colorado.  The firm was founded in July 2011 and is led by a team of investment professionals with a proven investment track record and a demonstrated capacity to originate, finance, construct, and operate distributed power generation investments.
TGC believes the continued increase of power prices and decreasing entry costs of distributed power generation technology will continue to lead to compelling investment opportunities which provide a stable cash flow stream with little to no correlation to the broader markets.
TGC is currently focused on the approximately $2 trillion distributed power generation market with an emphasis on the sub utility scale solar power segment. Thanks to rapid advancements in technology, the cost of distributed power generation, including solar, is now on par with traditional electricity generation sources and in many U.S. states it represents one of the few sources of new power generation infrastructure that can be added to the power network quickly, reliably, and cost efficiently.
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