LOIM Sustainable Private Credit participates in PearlX financing

PearlX announced expansion of its multifamily virtual-power-plant model in California following financing led by Lombard Odier Asset Management (USA) Corp using funds under management. The named vehicles include LOIM's Sustainable Private Credit strategy, backed by the Environment Agency Pension Fund. The issuer release describes a Series B totaling up to $70 million, which is a ceiling for the entire financing and is not recorded as LOIM's own investment. The programme finances solar generation, storage and electrification for rental communities. Exact bank lending, investor participation and ownership percentages are not disclosed. The transaction is attributable to the managed-funds business rather than proprietary lending by the Swiss bank.