|
Laxman Pai, Opalesque Asia: Global investment manager Nuveen has agreed to acquire Glennmont Partners, one of Europe's largest renewable energy fund managers, to meet increasing global demand for environmentally responsible investments.
Money manager Nuveen, which has over $1 trillion of assets under management, already manages almost $3.7 billion in renewable energy, digital, telecom, transportation, and social infrastructure sectors worldwide.
European clean energy infrastructure manager Glennmont runs more than $2 billion in assets. It raises long-term capital to invest in alternative power generation projects, including onshore and offshore wind farms, biomass power stations, and small-scale hydroelectric power plants.
Terms of the deal were not disclosed, a spokeswoman for Nuveen said. The deal is set to complete in the current quarter and is subject to regulatory approval and other customary closing conditions.
According to a press release, Glennmont will be Nuveen's investment center for clean energy infrastructure and will be integrated within Nuveen's Real Assets platform, which also serves TIAA, while retaining its independent and proven investment process.
The acquisition aims to accelerate Glennmont's growth in 2021 with a suite of new products backed by seed capital from Nuveen and TIAA that will target investment opportunities in European, U.S., and Asian markets across the equity and credit space said the release.
The acquisition t...................... To view our full article Click here
|
RSS
