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Nuveen Buys Renewable Energy Manager Glenmont

Nuveen, which has $1.1 trillion in assets under management, announced Tuesday it is acquiring Glennmont Partners, a European renewable energy manager. 

Nuveen will integrate London-based Glennmont into its private infrastructure platform, which manages  $3.7 billion globally in the renewable energy, digital, telecommunications, transportation, and social infrastructure sectors. Terms of the deal were not disclosed. Nuveen, owned by TIAA, expects the deal to close in the first quarter. 

“Glennmont has a proven track record of investment excellence in one of the most dynamic and fastest growing infrastructure sectors,” said Nuveen CEO Jose Minaya, in a statement. “The Glennmont team also shares our values and our unwavering commitment to helping investors meet their long-term goals.” 

Glennmont, founded in 2008, raised $1 billion for its third fund, the largest European clean energy fund at the time, according to the statement. Glennmont invests in wind farms, biomass power stations, solar parks, and small-scale hydro power plants. Nuveen and TIAA will seed new products from the team and look for investment opportunities in Europe, the U.S., and Asia.

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