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The Church Pension Fund Invests in $75 Million Off-Grid Solar and Financial Access Senior Debt Fund

Investment Will Provide Renewable Energy Finance Loans to Businesses
in the Developing World

Church Pension Fund
(CPF), a financial services
organization that serves the Episcopal Church, announced today that it
invested $17 million in the Social
Investment Managers & Advisors (SIMA)
Off-Grid Solar and
Financial Access Senior Debt Fund I, B.V. The $75 million fund will
provide loans to microfinance institutions, distribution companies, and
manufacturers in the off-grid solar sector located in sub-Saharan Africa
and South Asia.

“This investment will enable customers of solar energy to lease on an
affordable installment basis and will impact the lives of more than 1
million people while reducing carbon dioxide by 4 million tons,” said
Asad Mahmood, CEO and Managing Partner of SIMA.

, Executive Vice President and Chief Investment Officer of
CPF, said, “The Church Pension Fund has historically invested in a
number of funds that provide financing to companies that promote clean
technology in developing markets. This investment represents our second
investment focused on the off-grid solar sector as market conditions in
this space remain extremely strong. Today more than 2.2 billion people
across the world still live without reliable access to energy, and the
underlying need for off-grid renewable energy still far outpaces the
availability. This investment offers us the opportunity to provide
funding for much-needed financing while also earning a competitive rate
of return. We look forward to building our relationship with SIMA as we
continue to explore future socially responsible investment

This transaction follows recent socially responsible investments with
the Cheyne Social Property Impact Fund, the Avanath Affordable Housing
Fund, and the Developing World Markets’ Off-Grid, Renewable and Climate
Action Impact Note.

CPF’s socially responsible investing (SRI) focuses on investments that
offer attractive risk-adjusted returns and also have a positive social
impact. CPF currently has approximately $1 billion of invested or
committed capital in socially responsible investments in 25 countries.
CPF’s SRI-related investments focus on economically targeted initiatives
(urban redevelopment, affordable housing, sustainable agriculture, and
microfinance) and environmentally responsible programs (sustainable
forestry, clean technology, and green buildings).

Editor’s Note:

Individuals interested in learning more about CPF’s SRI efforts can
visit www.cpg.org/srivideos
to view a series of case studies and Executive Insights videos.

About Social Investment Managers & Advisors

Social Investment Managers & Advisors vision is to make social
investments an accepted asset class for commercial investors, thereby
unleashing appropriate capital to grow profitable, responsible
businesses that improve the lives of our low-income customers. Learn
more at http://simafunds.com.

About The Church Pension Fund

The Church Pension Fund (CPF) is a separately incorporated financial
services organization that serves the Episcopal Church. With
approximately $13 billion in assets, CPF and its affiliated companies,
collectively the Church Pension Group (CPG), have been authorized by the
General Convention of the Episcopal Church to provide retirement,
health, and life insurance benefits to clergy and lay employees of the
Episcopal Church. CPG also offers property and casualty insurance as
well as book and music publishing, including the official worship
materials of the Episcopal Church. www.cpg.org


The Church Pension Fund
C. Curtis Ritter,
Senior Vice President
Head of Corporate
[email protected]