Institutional investors include insurance companies, pension funds, banks, hedge funds, money managers and others that are seeking long-term, low-risk opportunities. Institutional investors manage a pool of funds and typically invest in securities such as stocks and bonds and real estate. Real estate investment trusts have had some applicability to renewable energy projects in the United States. Also there have been some issuances of solar investments as securitized vehicles, which could also be attractive to institutional investors, although neither tool has yet to be utilized at scale to support clean energy at the project level.