Petros PACE Finance is a technology company.
Petros PACE Finance has raised $10.0M across 1 funding round.
Petros PACE Finance has raised $10.0M in total across 1 funding round.
Petros PACE Finance has raised $10.0M in total across 1 funding round.
Petros PACE Finance's investors include Vision/Capital/People (VCP).
Petros PACE Finance is a leading provider of Commercial Property Assessed Clean Energy (C-PACE) financing, specializing in long-term, fixed-rate, non-recourse loans for energy efficiency, water efficiency, renewable energy, and resiliency upgrades on commercial properties.[1][2][3] Founded in 2016 and headquartered in Austin, Texas, the firm has originated over $2 billion in directly funded balance-sheet C-PACE transactions nationwide, offering 100% financing for hard and soft costs on retrofits, redevelopments, and new construction, which lowers blended capital costs, boosts property values, and supports ESG goals.[1][2][4] Acquired by Apollo Global Management (via Athene) in 2022, Petros serves commercial real estate owners and developers in 27+ states, positioning C-PACE as a foundational layer in capital stacks rather than an afterthought.[1][3]
Petros PACE Finance was founded in 2016 by Mansoor Ghori, its CEO, who brought decades of experience in private credit and structured finance.[1][3] Launching amid rising demand for sustainable real estate upgrades, the Austin-based firm quickly scaled by originating over $700 million in C-PACE loans by late 2021, focusing exclusively on commercial PACE programs secured by special property tax assessments.[3] A pivotal moment came in December 2021 when Athene Holding Ltd. (part of Apollo Global Management) announced its acquisition, providing billions in committed capital and enabling nationwide expansion with "certainty of close."[1][3] Under Ghori's leadership, Petros evolved from a niche lender to the largest direct originator of balance-sheet funded C-PACE, driven by institutional investor relationships and a shift in market dynamics where owners now seek PACE terms first.[1]
Petros rides the ESG and sustainability wave in commercial real estate (CRE), where funding gaps for resiliency/efficiency upgrades are widening amid climate regulations, investor mandates, and rising energy costs.[1][3] Timing is ideal as C-PACE institutionalizes—shifting from "last to the party" to first-in-stack financing—fueled by market forces like sustainability requirements, flexible CRE lending needs, and post-pandemic urban revitalization.[1][2] By enabling low-cost capital for green retrofits, Petros influences the ecosystem, promoting economic development, carbon reduction, and higher property performance, while partnering with programs like Investor Ready Energy Efficiency (IREE) to standardize projects.[5][6]
Petros is poised for accelerated growth as C-PACE expands into a diversified real estate platform, with Ghori forecasting surges from stricter ESG rules and CRE portfolio upgrades (projects $500K–$200M+).[1] Trends like federal incentives, AI-driven energy optimization, and resilient infrastructure will amplify demand, potentially evolving Petros toward broader PERE credit. Its Apollo backing and first-mover status could solidify influence, transforming CRE capital stacks and scaling impact in sustainable finance—building on its trailblazing origins to lead the green retrofit revolution.[1][3]
Petros PACE Finance has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Venture Round in January 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2018 | $10.0M Venture Round | Vision/Capital/People (VCP) |