Glennmont Partners (“Glennmont”), from Nuveen Infrastructure, has announced its first investment into a significant risk transfer (SRT) transaction, only a few days after the first close of its energy transition enhanced credit strategy at €250 million.
The transaction is structured on a €1 billion reference portfolio, held by a top-tier European bank, comprising over 75 loans diversified across 5 European countries. The portfolio covers a range of sustainable infrastructure sectors including onshore wind, offshore wind, solar PV, solar CSP, and digital infrastructure.
The transaction has been agreed shortly after the first close of the strategy, which raised €250 million and sought to capitalise on the vast growth in investment opportunities supporting the energy transition.
Claudio Vescovo, Fund Manager of the strategy and Managing Director at Glennmont Partners from Nuveen Infrastructure, said:
“We’re pleased to continue innovating and creating value for our investors. This transaction offers Glennmont’s investors exposure to a highly diversified portfolio and a hedge to inflation with potential upsides in the current interest rate environment. This transaction demonstrates Glennmont’s ability to find attractive opportunities and deliver sustainable, enhanced returns for our investors.”
Scott Lawrence, Co-Founder of Glennmont Partners from Nuveen Infrastructure, added:
“Occurring only a few days after the strategy’s first close, this landmark transaction demonstrates Glennmont’s ability to deploy capital quickly and cements the firm’s position as a leader in the sustainable private credit market. We believe the strategy will deliver stable, risk adjusted returns through investments in the sustainable infrastructure space.”
To date, Glennmont has executed credit investments across 8 European countries taking exposure to over 1,000 clean infrastructure projects.