Energy fund manager Glennmont Partners acquired by Nuveen

Facebook
Twitter
LinkedIn
Reddit
Email

Renewable energy fund manager Glennmont Partners has been acquired by global investment manager Nuveen.

The acquisition will allow Glennmont to accelerate its growth in 2021, including launch a suite of new products backed by seed capital from Nuveen and its parent company TIAA.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Set up in 2008, Glennmont is one of Europe’s largest fund managers with a focus on clean energy infrastructure. It has more than €2 billion of assets under management, through 31 investments with 1,523MW per technology.

In 2019, Glennmont successfully raised over $1 billion for its third private fund. This was the largest ever amount raised for a European-focused clean energy fund at the time, the company said.

Joost Bergsma, Glennmont Partners managing partner and CEO, said they were delighted to be entering into the agreement with Nuveen, “where we can continue our growth and deliver strong performance for investors from assets across new geographies in the US and Asia, while maintaining our focus on investments in Europe, which remains a key market for us.

“This acquisition will also enable Glennmont to better support the global decarbonisation agenda and help lead the clean energy transition.”

For Nuveen, the acquisition helps to grow its existing $3.7 billion private infrastructure platform, which currently covers renewable energy, digital, telecoms, transportation and social infrastructure sectors globally.

Glennmont will become Nuveen’s investment centre for clean energy infrastructure. It will be integrated with the company’s Real Assets platform, although it will retain its independent investment process.

“Glennmont has a proven track record of investment excellence in one of the most dynamic and fastest growing infrastructure sectors,” said Nuveen CEO Jose Minaya. “The Glennmont team also shares our values and our unwavering commitment to helping investors meet their long-term goals.”

The transaction is expected to close in Q1 2021, subject to regulatory approval, with Nuveen taking a 100% stake in Glennmont.

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA