Energy fund manager Glennmont Partners obtained by Nuveen

• Renewable energy fund manager Glennmont Partners has actually been gotten by global investment manager Nuveen.

The purchase will certainly allow Glennmont to accelerate its growth in 2021, consisting of launch a collection of new items backed by seed resources from Nuveen as well as its moms and dad firm TIAA.

Establish in 2008, Glennmont is just one of Europe's biggest fund managers with a focus on tidy energy infrastructure. It has more than EUR2 billion of assets under management, through 31 investments with 1,523 MW per modern technology.

In 2019, Glennmont efficiently increased over $1 billion for its third exclusive fund. This was the largest ever amount raised for a European-focused tidy energy fund at the time, the business said.

Joost Bergsma, Glennmont Partners handling companion and also CEO, claimed they were delighted to be becoming part of the arrangement with Nuveen, "where we can continue our growth and also deliver strong efficiency for capitalists from assets across brand-new geographies in the US and Asia, while keeping our concentrate on financial investments in Europe, which stays a crucial market for us.

" This acquisition will certainly also make it possible for Glennmont to better support the international decarbonisation program and also aid lead the clean energy shift."

For Nuveen, the purchase aids to grow its existing $3.7 billion exclusive framework platform, which presently covers renewable resource, electronic, telecoms, transportation as well as social facilities markets around the world.

Glennmont will certainly end up being Nuveen's financial investment centre for clean energy framework. It will certainly be integrated with the firm's Real Assets system, although it will certainly maintain its independent financial investment procedure.

" Glennmont has a tested record of financial investment quality in among the most vibrant as well as fastest growing infrastructure fields," claimed Nuveen CEO Jose Minaya. "The Glennmont team likewise shares our worths and also our steadfast dedication to assisting investors meet their long-term objectives."

The purchase is anticipated to enclose Q1 2021, based on governing approval, with Nuveen taking a 100% risk in Glennmont.