Nuveen is planning to buy out Glennmont Partners, one of Europe’s largest renewable energy fund managers, for an undisclosed amount.
The acquisition is expected to enhance Nuveen’s existing private infrastructure platform, which manages almost $3.7 billion across renewable energy, digital, telecommunications, transportation and social infrastructure sectors globally.
“My co-founders and I are delighted to be entering into this agreement with Nuveen, where we can continue our growth and deliver strong performance for investors from assets across new geographies in the U.S. and Asia, while maintaining our focus on investments in Europe, which remains a key market for us,” said Joost Bergsma, managing partner and CEO of Glennmont Partners. “This acquisition will also enable Glennmont to better support the global decarbonization agenda and help lead the clean energy transition.”
The transaction is expected to close during first quarter 2021.
