Greenbacker Capital Management, a renewable energy asset manager, announced that David Zackowitz has been hired as the firm’s new head of real estate investments.
Greenbacker says Zackowitz will lead the company’s fourth sustainability driven investment strategy, focused on acquiring commercial and residential property where the company can reduce greenhouse gas emissions and energy use intensity, as well as add additional sources of renewable power.
As head of real estate investments, Zackowitz will manage Greenbacker’s investments in real estate, a sector that contributes approximately 40% of global GHG emissions. He will oversee deal origination and deploy capital to improve energy efficiency and support the expansion of electric vehicle fleet charging and rooftop community solar across the real estate assets acquired.
Zackowitz brings 22 years of experience in principal investments, asset management and portfolio company oversight across the real estate asset class, including acquiring and implementing value-add strategies for $25 billion of commercial properties throughout his career. Prior to GCM, he was a managing director at Blackstone, the world’s largest alternative assets manager.
“David perfectly complements Greenbacker’s existing investment expertise and expands our ability to invest across the clean energy and sustainability focused asset class,” said Charles Wheeler, chief executive officer of Greenbacker. “His experience and track record with some of the country’s leading real estate investment platforms will bolster Greenbacker’s capabilities within sustainable real estate, a sector with significant opportunity for investment to drive a clean energy future.”
Greenbacker Renewable Energy Company seeks to invest in projects that sell clean power under long-term contract to counterparties such as utilities, municipalities and corporations.