PACE Funding Group names James Vergara Chief Investment Officer
Los Gatos, California, August 5th, 2019 /PRNewswire/ — PACE Funding Group, LLC, a California-based specialty finance company that is a leading provider of residential Property Assessed Clean Energy (PACE) financing, is pleased to announce the appointment of James Vergara as Chief Investment Officer. Mr. Vergara will be responsible for growing PACE Funding’s presence in the residential PACE financing market, diversifying the company’s product offerings and securing additional capital and investment in the company.
Mr. Vergara has led capital markets at PACE Funding since 2017, including securing the company’s senior warehouse lending facility with SunTrust Bank and closing three securitizations of the company’s residential PACE assets totaling over $170 million. Prior to joining PACE Funding, James oversaw the launch of the SprucePACE residential financing program at Spruce Finance and spent 16 years in municipal finance, trading and derivatives at Deutsche Bank, Lehman Brothers and Morgan Stanley. James is a graduate of the University of Pennsylvania.
“James’s strong and demonstrated track record with our funding and securitizations, as well as his experience in expanding our residential PACE business, makes him the ideal candidate to serve as our Chief Investment Officer and lead our company into the next stage of growth and investment,” said Robert Giles, CEO, PACE Funding Group LLC.
About PACE Funding Group:
PACE Funding Group, LLC is a leading renewable energy and energy efficiency financing provider with a focus on consumer protection and conservatism. The company’s PACE financing enables property owners to invest in their buildings and a healthier environment. PACE has proven to be a successful tool for supporting public policy initiatives across the country, without the use of taxpayer funds. While PACE programs are enabled by state legislation and must be approved by local governments, PACE Funding is not a government program. PACE Funding has assisted more than 4,000 California homeowners with R-PACE projects to finance energy efficient upgrades to their homes and is approved in more than 410 municipalities through the State. The Florida PACE Funding Program was launched earlier this year and is eligible in more than 110 municipalities.
Based in Los Gatos, California, PACE Funding Group works with the California Statewide Communities Development Authority (CSCDA), the County of Los Angeles and the Western Riverside Council of Governments (WRCOG). Outside of California, PACE Funding Group has partnered with the Florida Development Finance Corporation (FDFC).
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