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
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
