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Glennmont Partners launches new renewable energy infrastructure fund

·1-min read

By Nina Chestney

LONDON (Reuters) - Fund manager Glennmont Partners said on Wednesday it had launched a new renewable energy infrastructure fund to invest in brownfield clean energy projects across Europe.

Glennmont Partners was acquired last year by Nuveen, which manages $1.1 trillion in assets on behalf of institutions and individuals around the world.

The new fund, called Nuveen European Core Renewable Infrastructure, is in partnership with MN, one of the largest pension investors in the Netherlands.

The 700 million euro ($701 million) fund will enable Glennmont and MN to invest in renewable energy projects on so-called brownfield sites, which have been built on before, in Europe from the fourth quarter of this year, including in the Netherlands, Britain, France, Spain, Italy, the Nordics and Germany.

Glennmont Partners' previous funds have focused on new-build projects. MN will invest 600 million euros while TIAA, Nuveen's parent company, will provide 100 million euros.

($1 = 0.9984 euros)

(Reporting by Nina Chestney; editing by David Evans)