Glennmont Raises $267 Million for Clean-Energy FundMarc Roca
Glennmont Partners, the clean-energy investor spun off from BNP Paribas SA, has raised 200 million euros ($267 million) for its second fund helped by continued interest from institutional investors.
New and existing investors have committed to the 10-year infrastructure fund, which aims to raise as much as 450 million euros, the London-based asset manager said in a statement today. The fund targets onshore wind, solar, biomass and small hydro projects in Europe.
“There is continued appetite for clean-energy investment in Europe and a good, deep set of opportunities,” Chief Executive Officer Joost Bergsma said by phone. Since the spin off in January, “we have attracted have a good mix of institutional investors, including insurance companies, pension funds and consultants.”
Glennmont, which also manages a 437 million-euro fund it raised as BNP Paribas Clean Energy Partners, is one of Europe’s largest specialist investors in renewable energy. It has invested in about 15 clean-energy assets since 2007.
The second fund will also target medium-sized projects in operation or construction, according to Bergsma. It will focus on the French and U.K. markets primarily, as well as other northern European countries, he said.