Glennmont Clean Energy Infrastructure Fund Oversubscribed, Reaches €500M Cap

Glennmont primed to add to €1bn of investments as second fund completes final close

September 01, 2014 03:00 AM Eastern Daylight Time

LONDON–(BUSINESS WIRE)–Glennmont Partners, one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure, has successfully closed its second fund, Clean Energy Fund II, having raised €500 million, the maximum amount permitted, exceeding its target of €450 million.

“Our team is already assessing a number of high quality investment opportunities and we’re ready to continue to grow by backing only carefully selected, risk managed investments. The closing of our second fund reflects investor confidence in our ability to deliver sustained performance and predictable returns.”

The life of the fund is ten years and the fundraising has been supported both by existing and new investors, including the European Investment Bank (EIB) which invested €50 million, the single largest clean energy equity investment it made in 2013 . With its second fund, Glennmont has attracted capital from new territories and now has investors in its funds based across Europe, the US, the Middle East and Asia.

Commenting on the final close of its second fund, Glennmont Managing Partner Joost Bergsma said: “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. 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 was founded last year as a spin-off from BNP Paribas Investment Partners. It 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 continental Europe. Glennmont’s first fund has operating infrastructure projects in the UK, Ireland, France, Italy and Portugal totalling 354MW collectively

Bergsma added, “Our team is already assessing a number of high quality investment opportunities and we’re ready to continue to grow by backing only carefully selected, risk managed investments. The closing of our second fund reflects investor confidence in our ability to deliver sustained performance and predictable returns.”

Global Private Equity Partners acted as sole placement agent in France and the Middle East.

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As one of the world’s leading and most diverse financial services firm, Global Private Equity Partners serves the needs of our clients by offering a world-class project funding platform coupled with straightforward, intelligent advice.

Global Private Equity Partners has successfully completed a $732 million ten-year non-recourse project financing for large Oil Producer.

“We got responses from 18 of the leading global lenders – both banks and commodity traders and we selected Global Private Equity Partners,” CEO of the Oil Company said.

It was Global Private Equity Partners’ flexible terms that ensured the feasibility of this project.

Through an accelerate growth strategy, the Company aims to become a stand-alone operator in oil and gas exploration and production by 2019 and a “world class operator” by 2026, CEO said.

About Global Private Equity Partners.

Strength, Solutions and Growth

At Global Private Equity Partners, we apply our strengths as a leading global investment and advisory firm to deliver solutions, unlock value and propel growth. Our capital fuels the development of businesses and communities. Our strategic advice helps companies and governments stabilize, grow and thrive during these challenging times. We invest in emerging markets and entrepreneurs that will be the wellsprings of future opportunity. Over 700 employees focus on making our clients’ private markets investment programs a true success. That’s all we do. And we do it with passion.

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As one of the world’s leading and most diverse financial services firm, Global Private Equity Partners serves the needs of our clients by offering a world-class project funding platform coupled with straightforward, intelligent advice.

The deal will fund a 70 megawatt farm with 32 turbines in South Asia which is estimated to generate 242 gigawatt hours of electricity. That would be equivalent to 190,000 tonnes of avoided greenhouse gas emissions and enough generated power for around 43,000 average households for one year

Wind Farm President said the deal followed a $380 million climate bond in December last year.

Global Private Equity Partners is already the largest debt financier of renewable energy in this country.

“This is further evidence that debt markets can play a pivotal role in financing a low carbon economy and help the renewable energy sector continue to grow.”

About Global Private Equity Partners.

Strength, Solutions and Growth

At Global Private Equity Partners, we apply our strengths as a leading global investment and advisory firm to deliver solutions, unlock value and propel growth. Our capital fuels the development of businesses and communities. Our strategic advice helps companies and governments stabilize, grow and thrive during these challenging times. We invest in emerging markets and entrepreneurs that will be the wellsprings of future opportunity. Over 700 employees focus on making our clients’ private markets investment programs a true success. That’s all we do. And we do it with passion.

The post Wind Farm based in Asia has raised $195 million from Global Private Equity Partners appeared first on Global Private Equity Partners.

As one of the world’s leading and most diverse financial services firm, Global Private Equity Partners serves the needs of our clients by offering a world-class project funding platform coupled with straightforward, intelligent advice.

Global Private Equity Partners has successfully completed a $660 million non-recourse project financing for Solar Power project.

Loan proceeds will be used for the construction of 100 MW solar thermal electricity (STE) power plant. It features advanced technology with a five-hour thermal energy storage system using molten salts that assists in meeting the evening peak demand. This plant will produce clean and dispatchable energy to serve more than 95,000 households and will prevent the emission of 348,000 tons of CO2 per year.

With a total investment of approximately $880 million, construction of the Solar Plant started in 2014. Job creation will peak at over 1,300 positions during the construction phase, generating 45 permanent jobs for plant operation and Construction on the project is already underway and the project is expected to the commissioned by 2017.

About Global Private Equity Partners.

Strength, Solutions and Growth

At Global Private Equity Partners, we apply our strengths as a leading global investment and advisory firm to deliver solutions, unlock value and propel growth. Our capital fuels the development of businesses and communities. Our strategic advice helps companies and governments stabilize, grow and thrive during these challenging times. We invest in emerging markets and entrepreneurs that will be the wellsprings of future opportunity. Over 700 employees focus on making our clients’ private markets investment programs a true success. That’s all we do. And we do it with passion.

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