Glennmont Partners, a UK-based private equity infrastructure investor, has raised 200 million (US$267 million) towards its second clean-energy investment fund.
The life of the fund is 10 years and it has a target size of up to 450 million. The fund targets onshore wind, solar, biomass and small hydro projects in Europe.
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Glennmont managing partner Joost Bergsma said: "When we formed Glennmont our intention was to create a platform which fully aligned the interests of our investors with those of our team. We were clear that our specialist focus on clean energy infrastructure investments would appeal to institutional investors need for yield and long term capital appreciation."
Glennmont has launched its first fund called Clean Energy Fund in 2009, raising 437 milion in 18 months with BNP Paribas Investment Partners as a cornerstone investor.
Glennmont’s first fund is now fully committed and the firm has now made investments worth more than 1 billion.
Glennmont stated the first investment of the fund will be made within the next month and the management fees are in line with market trends.
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By GlobalData"Clean energy infrastructure is a highly attractive asset class for those investors looking for lower-risk assets simultaneously offering wealth protection, consistent yield and capital value appreciation," Bergsma added.
