Glennmont Partners has successfully closed its second fund, Clean Energy Fund II, having raised € 500 million, the maximum amount permitted, exceeding its target of € 450 million.
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. 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. 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.
