Nuveen Buys Clean Tech Infra Player Glennmont Partners
Posted on 01/19/2021
Nuveen is the asset management arm of U.S. financial services group TIAA. Nuveen acquired European renewable energy fund manager Glennmont Partners, which manages over US$ 2 billion worth of assets.
Glennmont Partners was formed in 2008 and targets investments in clean energy infrastructure such as wind, solar, and biomass.
Nuveen seeks to center Glennmont Partners to be a clean energy vehicle for Nuveen’s massive US$ 150 billion real assets platform. The transaction is expected to close during the first quarter of 2021, subject to regulatory approval and other customary closing conditions, and will see Nuveen take a 100% stake in Glennmont.
Keywords: The Teachers Insurance and Annuity Association of America and College Retirement Equities Fund (TIAA).