Glennmont holds first close on €200m

Glennmont was founded in January this year as a spin-off of BNP Paribas Clean Energy Partners.

The vehicle has a target of €400m, which Glennmont will try to reach within the next 12 months. The first investment will be made within the next month. The management fees of the fund are in line with market trends, the GP stated.

The fund has a typical lifespan of 10 years, focusing solely on investments in clean energy infrastructure. Each of Glennmont's investments has a lifespan of 15–20 years.

According to Glennmont managing partner Joost Bergsma, cleantech infrastructure offers low-risk investment, delivering a consistent yield and wealth protection.

Glennmont (then BNP Paribas Clean Energy Partners) launched its first fund called Clean Energy Fund in 2009, raising €437m in 18 months with BNP Paribas Investment Partners as a cornerstone investor.

From this fund, the GP made investments worth more than £1bn in proven alternative energy technologies. The fund is now fully invested.

Investors
Glennmont's second fund saw existing investors returning and attracted new LPs. Investors include institutions, funds of funds, pension plans and insurance companies.

Investments
The fund focuses on clean energy infrastructure investments. It will invest in alternative power generation projects, which will focus on proven technologies such as wind, biomass, solar and small-scale hydro.

People
Joost Bergsma and Peter Dickson are managing partners at Glennmont Partners. Peter Dickinson is also technical director at the firm.

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