Glennmont Partners鈥檚 latest energy transition credit fund has made its first investment in the form of a significant risk transfer (SRT) transaction.
Glennmont said the Energy Transition Enhanced Credit II fund, which recently raised an initial 鈧�250m, has the SRT 鈥漷ransaction structured on a 鈧�1bn reference portfolio, held by a top-tier European bank鈥�, comprising over 75 loans diversified across five European countries.
The Nuveen-owned infrastructure manager said the portfolio covers a range of sustainable infrastructure sectors including onshore wind, offshore wind, solar and digital infrastructure.
Claudio Vescovo, fund manager of the strategy and managing director at Glennmont Partners from Infrastructure, said: 鈥淲e鈥檙e pleased to continue innovating and creating value for our investors. This transaction offers Glennmont鈥檚 investors exposure to a highly diversified portfolio and a hedge to inflation with potential upsides in the current interest rate environment.
鈥淭his transaction demonstrates Glennmont鈥檚 ability to find attractive opportunities and deliver sustainable, enhanced returns for our investors.鈥�
Scott Lawrence, co-founder of Glennmont Partners from Nuveen Infrastructure, said: 鈥淥ccurring only a few days after the strategy鈥檚 first close, this landmark transaction demonstrates Glennmont鈥檚 ability to deploy capital quickly and cements the firm鈥檚 position as a leader in the sustainable private credit market.
鈥淲e believe the strategy will deliver stable, risk-adjusted returns through investments in the sustainable infrastructure space.鈥�
To date, Glennmont has executed credit investments across eight European countries, taking exposure to over 1,000 clean infrastructure projects.
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