Gemstone Renewable Energy Efficiency Fund

Gemstone Renewable Energy Efficiency Fund, LP (GREF) is newly formed investment partnership to make specialty project finance investments in both renewable energy and energy efficiency middle market commercial and residential transactions. The managers are transforming their transaction oriented intermediary business into a full service specialty project finance fund. The Fund will be a capital resource to the renewable energy middle market commercial and residential sectors which are significantly underserved by traditional capital sources. GREF will invest in a portfolio of renewable energy and energy efficiency related assets through a series of senior and subordinated securities both secured and unsecured. In all cases GREF will employ conservative project finance investing principles and risk management (as described further below) to provide both principal protection and enhanced returns.

Gemstone is forming GREF and it will be managed by a Gemstone affiliate Tier 1 Generation, LLC. Gemstone has successfully raised and deployed capital for two active funding programs, Keystone HELP and CT Solar Leasing. Additional details on these programs are available.

GREF is seeking accredited high net worth, family office, and institutional investors (Investors) to execute its strategy. Investing with GREF’s expertise in renewable project finance provides a path for Investors to achieve a steady, risk adjusted current cash return.

Financial description

As an income fund, the capital raised would be invested in debt type investments in the US and return P&I quarterly throughout the fund life. We will enhance the debt with reserves or guarantees like a project financing.
GREF intends to provide investors a greater than 7% return after fees and expenses. Investors will fund an initial investment with the subscription and have follow on calls during the investment period. Thereafter, investors will receive principle and interest back on a quarterly basis.
GREF has a 1.5% closing fee and annual expense payment of .15% which is paid by the LP. GREF charges a performance based management fee up to 50 bps on each transaction. Additional revenue opportunities structured into any given transaction is shared 50/50% between the Manager and the LPs.