Glennmont round raises €500m

Joost Bergsma

Joost Bergsma

Glennmont Partners has closed its second fund, having raised €500m ($657m) to invest in clean-energy infrastructure - exceeding its €450m target.

Investors in Clean Energy Fund 2, which has a life of ten years, include the European Investment Bank, which has pumped in €50m – the single clean-energy equity investment it made in 2013.

Glennmont says it has attracted funds from across Europe, the US, the Middle East and Asia.

“We were previously a specialist team working within other institutions, but having established Glennmont we are now a specialist independent partner and our investors value that,” says the UK-based private equity infrastructure investor's managing partner, Joost Bergsma.

“We have now fully invested our first fund, building on our existing track record as an independent company. The oversubscribed nature of our second fund raising, and the breadth and calibre of our investors, is a clear signal that the markets appetite for yield and long term capital appreciation remains healthy.”

Glennmont is one of Europe’s largest fund managers, focusing exclusively on investment in clean-energy infrastructure. It was founded early in 2013 after a spin-off of BNP Paribas Clean Energy Partners from BNP Paribas Investment Partners.

The company manages long-term capital to invest in alternative power generation projects, focusing on proven technologies such as wind, biomass, solar and small-scale hydro across the UK and Europe.

Its first fund has operating infrastructure projects in the UK, Ireland, France, Italy and Portugal, totalling 354MW.

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