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
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.
