Case Study

NAV Collaborates with Client to Break New Ground for Funds Investing in Carbon Credits


Bellus Ventures

Other Strategies


In 2017, Bellus Ventures pioneered carbon credits as an asset class by launching the first fund investing in California Low Carbon Fuel Standard (LCFS) credits. Founder Zachary Singer convinced investors that state carbon markets could perform even under a federal government that was rolling back environmental regulations. The Bellus LCFS fund raised $29 million and returned 1.8x net within two years.NAV Fund Administration has been a trusted partner of Bellus since its inception, setting standards and best practices for fund administration for this new asset class. Bellus Vice President Ben Lewittes and Co-Portfolio Manager Brian McKibbin share their experience with NAV.

How NAV Helped

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