An early pioneer in financing renewable energy projects with
Indigenous economic ownership, Stonebridge has provided
institutional investors access to this growing sector since
2012
TORONTO, July 17, 2024 /CNW/ - Stonebridge Financial
(Stonebridge), a leading Canadian financial institution and
investment management firm specializing in private debt solutions,
is pleased to announce it has been honoured with the prestigious
Indigenous Allyship Award presented by the First Nations Power
Authority (FNPA) at its 8th Annual Indigenous Cleaner
Energy Forum & Awards Gala held in Saskatoon, Saskatchewan. The award celebrates
institutions that have demonstrated a commitment to supporting
Indigenous peoples and communities through allyship, stewardship
and reconciliation in the context of energy.
Over the past 12 years, Stonebridge has arranged and provided
financing for two dozen infrastructure projects, delivering
economic and social benefits to more than 40 Indigenous groups
across Canada. Loans totalling
$750 million have funded the
construction and operation of projects with a combined nameplate
capacity of approximately 1.2 million megawatt-hours of renewable
energy annually. These projects provide stable, long-term cash
flows to be reinvested back into Indigenous communities.
"First Nations Power Authority is pleased to recognize
Stonebridge Financial with this award for their contributions to
Indigenous allyship. Their financing efforts have helped empower
Indigenous communities with ownership in clean, reliable and
low-carbon energy solutions, paving the way for a brighter and more
resilient future for our people and the planet," said Guy Lonechild, President & CEO of FNPA.
A firm of firsts, Stonebridge launched Canada's first infrastructure debt fund in
2012 (Stonebridge Infrastructure Debt Fund I or SIDF I) with over
$200 million in institutional
investor commitments, followed by its second fund in 2014 (SIDF
II), which has grown to be 300% larger at nearly $600 million. Stonebridge's first fund allocated
40% of its loan commitments to renewable power projects with
Indigenous ownership. The second fund, which is three times larger
than the first, allocated 36% of its commitments to such
projects.
Notably, the first loan within SIDF I was for the Alderville
Solar Farm in Ontario, making
Stonebridge the first lender in Canada to finance the first renewable power
project to be 100% owned by an Indigenous group. This award-winning
project has been highlighted as a model case study in Indigenous
economic independence, social benefit and community pride, setting
a precedent for Indigenous ownership in the industry.
Stonebridge funds have provided vehicles for institutional
investors to diversify their investment portfolios while
participating in the private debt market accessing high quality,
stable cash flow investments secured by various types of Canadian
social and sustainable infrastructure projects. These funds have
helped "crowd-in" private capital enabling Stonebridge investors —
including insurance companies, pension funds, government agencies,
municipalities, universities, foundations — the ability to assist
with funding the development of new infrastructure projects across
Canada that they may not be able
to gain exposure to otherwise.
"I would like to thank the efforts and contributions of
both our team at Stonebridge as well as our many stakeholders –
borrowers, investors and consultants – for being early adopters and
ongoing promoters of the clean energy industry in partnership with
dozens of Indigenous communities across Canada," said Daniel
Simunac, Co-CEO of Stonebridge Financial. "As a member of
the FNPA, we look forward to further engaging with its members on
financing additional infrastructure projects and continue to
advance such Indigenous partnerships in creating more clean energy
towards Canada's sustainability
goals".
As Stonebridge celebrates its 25th anniversary, it is
set to launch its third infrastructure debt fund, Stonebridge
Infrastructure Debt Fund III (SIDF III), targeting $1 billion in commitments. This new fund will
continue supporting projects with Indigenous ownership, among
others. This builds on the success of firm's previous strategies
and reinforces Stonebridge as a leading lender to social
infrastructure and sustainable energy projects.
About Stonebridge Financial
Founded in 1998 and
headquartered in Toronto,
Stonebridge Financial is a regulated financial institution and
investment management firm focused on providing responsible private
debt and capital solutions to public, private and institutional
clients. Its core areas of focus include financing infrastructure,
renewable power, healthcare, real estate and corporate sectors.
Originally, co-founded with the assistance of Canada Life, Manulife
and Industrial Alliance (which together owned 30% of the company),
in 2021, Stonebridge became 100% independent and employee
owned.
With $3.2 billion in assets under
administration, Stonebridge and affiliates have cumulatively
committed $8 billion towards various
financings across Canada (all
figures are as of June 30, 2024).
Stonebridge manages various discretionary debt funds, managed
accounts and other lending relationships on behalf of its financial
partners, which include many of North
America's largest insurance companies, pension funds,
governments, foundations, banks, credit unions and other regulated,
local as well as foreign-based institutional investors. Stonebridge
has been an early adopter and ongoing promoter of environmentally
sustainable and socially responsible finance since the firm's
founding a quarter century ago. For more information,
visit Stonebridge.ca.
About First Nations Power Authority
FNPA is the only
North American non-profit Indigenous owned and controlled
organization developing power projects with Indigenous communities.
FNPA bridges the gaps between industry, government, and Indigenous
communities to evaluate and develop Indigenous owned power
generation projects. FNPA leverages project development expertise,
network of industry experts, and technical advisors to develop
projects resulting in increased economic benefits for First Nation
communities. more information, visit FNPA.ca.
SOURCE Stonebridge Financial Corporation