CohnReznick Capital

What CohnReznick Capital does

CohnReznick Capital, now operating as CRC-IB (Carbon Reduction Capital, LLC) and recently acquired by Canaccord Genuity Group Inc. in January 2026 to form CG/CRC-IB, is a specialized boutique investment bank focused exclusively on the renewable energy and sustainability sector. Founded in 2008 and headquartered in New York with additional offices in San Francisco and Westport, CT, the firm has executed 415 transactions representing $91bn in total transaction value and 134 GW of clean energy capacity, earning the #1 ranking for renewable energy financial advisor in North America by deal count from 2019 to 2024 per Inframation League Tables. The company rebranded from CohnReznick Capital to CRC-IB in November 2023 and transitioned to full partner ownership in November 2024 prior to the Canaccord acquisition.

The firm operates three integrated service lines: M&A Advisory (Asset M&A and Corporate M&A), Project Finance (Tax Equity, Tax Credit Transfer, and Debt), and Capital Raising. It serves renewable energy developers, independent power producers, utilities, Fortune 500 corporations (including Walmart), institutional investors, and infrastructure funds across solar, wind, battery storage, and carbon capture and storage sectors. The firm has pioneered first-of-its-kind tax credit financing structures, including CCS tax credit financing and landfill RNG ITC transfers under the Inflation Reduction Act's transferability provisions, and publishes proprietary biannual Market Cost of Energy analysis across six U.S. grid regions.

The business model is transaction-fee based, with advisory fees generated on success and retainer arrangements negotiated on a deal-by-deal basis. The firm distributes thought leadership through Quarterly Considerations research reports, industry conference participation, webinars with partners like Wood Mackenzie, and earned media in WSJ, Financial Times, Reuters, and Bloomberg. The firm is FINRA and SIPC registered, and reports a 75% repeat client rate across its deal flow, indicating deep relationship-based client retention in a sector defined by complex, bespoke financing requirements.

Name

CohnReznick Capital

Legal name

Carbon Reduction Capital, LLC

Website

https://cohnreznickcapital.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

CRC-IB (CG/CRC-IB) is a boutique investment bank providing M&A advisory, project finance, and capital raising services exclusively to the renewable energy sector, serving developers, utilities, institutional investors, and corporates across solar, wind, storage, and carbon capture.

Ownership category

akta.pro rank

Product category

Renewable Energy Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE)

akta.pro secondary industry

Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Renewable energy advisory
• Tax equity financing
• M&A advisory services
• Project finance
• Capital raising

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Advisory Fees: Investment banking advisory fees for M&A transactions, capital raising, and project finance engagements. Revenue is generated through success fees and retainers for transaction advisory services.
2. Financial Advisory Services: Ongoing advisory mandates including strategic guidance, structuring advice, and transaction management for sustainable energy clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

CohnReznick Capital (CRC-IB) is a boutique investment bank providing M&A advisory, project finance (tax equity, tax credit transfer, debt), and capital raising services exclusively to the renewable energy sector. The firm advises renewable energy developers, utilities, corporate buyers, and institutional investors on structuring, financing, and executing transactions across solar, wind, battery storage, and carbon capture projects. Following its January 2026 acquisition, the firm operates as CG/CRC-IB within Canaccord Genuity's U.S. capital markets business.

Product overview

CRC-IB (now CG/CRC-IB) is a specialized investment bank providing industry-leading financial advisory services across the renewable energy sector. Following Canaccord Genuity's acquisition in January 2026, the firm operates as a division within Canaccord Genuity's capital markets business. The firm offers three integrated service lines: M&A Advisory Services (Asset M&A and Corporate M&A), Project Finance (Tax Equity, Tax Credit Transfer, and Debt), and Capital Raising. These services are supported by proprietary research including Quarterly Considerations market reports and Market Cost of Energy (MCOE) analyses. The firm focuses on solar, wind, storage, and carbon capture sectors across utility-scale, distributed generation, and residential asset classes.

Differentiator

Problem solved

Functional benefit

Products and services

• M&A Advisory Services

Quantifiable outcome

• 415 renewable energy transactions completed
• +4 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Marathon Capital: Marathon Capital is a leading independent investment bank exclusively dedicated to the clean energy and sustainable infrastructure sectors, providing M&A, debt, tax equity, and capital raising advisory services to renewable energy clients. It competes head-to-head with CRC-IB on tax equity, project finance, and clean energy M&A mandates across North America.
• Nomura Greentech: Nomura Greentech is the clean energy and infrastructure technology investment banking arm of Nomura Holdings, providing M&A, capital markets, and strategic advisory to renewable energy, energy storage, and sustainable technology companies. It directly competes with CRC-IB on renewable energy advisory mandates with a similar sector-focused business model.

Broad incumbents

• Jefferies: Jefferies operates a sizable clean energy and power & utilities investment banking group offering M&A advisory, capital markets, and project finance for solar, wind, storage, and broader energy transition companies. As a much larger diversified bank, it competes with CRC-IB on both middle-market and large-cap renewable energy mandates.
• KeyBanc Capital Markets: KeyBanc Capital Markets has built a longstanding renewable energy investment banking franchise covering solar, wind, storage, and broader sustainability sectors with strong tax equity structuring capabilities. Its specialized but broader-bank platform makes it a natural competitor to CRC-IB on community solar and distributed generation mandates.
• Evercore: Evercore is a leading independent investment banking advisory firm with a dedicated energy and power group that advises on renewable energy M&A, project finance, and strategic transactions. It competes with CRC-IB for larger and more complex energy transition mandates while operating a much broader advisory franchise.
• Guggenheim Partners: Guggenheim Securities operates a clean energy and infrastructure investment banking practice advising on renewable energy M&A, capital raising, and project finance. Its sector expertise and broader capital markets capabilities position it as a competitor to CRC-IB on middle-market and large renewable energy engagements.
• MUFG (Mitsubishi UFJ Financial Group): MUFG's U.S. investment banking arm operates a dedicated clean energy and project finance practice with strong tax equity and tax credit transfer capabilities. It competes with CRC-IB on financing mandates for utility-scale renewable energy projects, particularly through partnerships with Japanese strategic investors.
• Wells Fargo Securities: Wells Fargo's clean technology and renewable energy investment banking group provides M&A, capital raising, and project finance advisory to renewable energy and sustainability clients. As one of the largest U.S. banks with a dedicated clean energy practice, it competes with CRC-IB on larger financings and M&A transactions.
• Lazard: Lazard operates a global energy and power investment banking practice advising on renewable energy M&A, divestitures, and strategic transactions for utilities, developers, and financial sponsors. While broader in scope, it competes with CRC-IB for mandates on the larger end of renewable energy M&A and strategic advisory.

Others

• Hannon Armstrong: Hannon Armstrong is a capital provider focused on climate solutions, offering debt and equity financing for renewable energy, energy efficiency, and sustainable infrastructure projects. While operating as a principal investor rather than a pure advisor, it interfaces with the same renewable energy developer client base as CRC-IB.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cohnreznickcapital
• Xx.com/CR_Capital

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CohnReznick Capital