Nuveen to acquire clean energy fund manager
Global investment manager, Nuveen will acquire Glennmont Partners to enhance its private infrastructure platform to meet increasing demand for environmentally responsible investments.
Glennmont is a renewable energy fund manager that is singularly focused on clean energy infrastructure. Nuveen’s infrastructure platform managers almost $3.7 billion across renewable energy, digital, telecoms, transportation, and social infrastructure sectors.
The acquisition was expected to close during the first quarter of 2021, subject to regulatory approval and would see Nuveen take a 100% stake in Glennmont.
Nuveen chief executive, Jose Minaya, said: “Glennmont has a proven track record of investment excellence in one of the most dynamic and fastest growing infrastructure sectors.
“The Glennmont team also shares our values and our unwavering commitment to helping investors meet their long-term goals.”
Glennmont managing partner and chief executive, Joost Bergsma, said: “This acquisition will also enable Glennmont to better support the global decarbonisation agenda and help lead the clean energy transition”.
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
