Orrick Recognized for Esoteric ABS Deal of the Year by GlobalCapital

Orrick, together with its client Nuveen Green Capital, received the “Esoteric ABS Deal of the Year” award from GlobalCapital at this year’s US Securitization Awards. The award recognizes Orrick for our work on Greenworks CPACE 2021-1, where we advised Nuveen Green Capital as sponsor on its first rated Rule 144A Commercial PACE securitization through an issuance by its affiliate, PACEWell 5 LLC. The assets for the transaction were secured by PACE assessments on commercial properties in various states.

The award was presented by GlobalCaptial after a review process by its editorial board and was announced on September 16, 2022, when over 140 structured finance market leaders gathered in New York to celebrate this year's winners. Orrick and Nuveen Green Capital, along with the placement agents Guggenheim and Truist, were in attendance to accept the award.

“We're honored to receive this award for innovation in the structured finance industry. Our ability to continually innovate in the private label ABS Market is a natural product of Orrick's unique synergies and strengths in structured finance and other specialty practices. As the private market continues to introduce new assets and innovative structures, we’re prepared to innovate alongside our clients as they transform the financial markets,” said Leah Sanzari, leader of Orrick’s Esoterics practice.

In addition to Nuveen Green Capital, Orrick’s PACE practices represent most of the C-PACE issuers in the capital markets, including Hannon Armstrong, Twain Financial Partners, PACE Loan Group, Stonehill PACE, and PACE Equity. Our team has advised these clients on several completed securitizations secured by PACE assessments in various states.

Orrick's Structured Finance team was led by partner Leah Sanzari and included Thomas Mitchell, Steve Jackson, Dora Mao, Elizabeth Elias, Rich Paladino, and Pariya Ghafoori, among others.