200-year-old asset management firm acquires 75% of Greencoat – one of Europe’s largest renewable infrastructure managers.
With private investment a growing part of global renewable energy ambitions, asset management firm Schroders has announced the £358m acquisition of Greancoat – one of the largest renewable energy asset managers in the world.
Greencoat, which pioneered large-scale renewable energy infrastructure investing, manages around €8bn of renewable energy assets, primarily in Europe. It also attracted almost €2bn in private funds for further investments over the last twelve months.
Peter Harrison, group chief executive of Schroders, explained the acquisition, saying: “Greencoat is a market-leading, high growth business, with an outstanding management team, which provides access to a large and fast-growing market in high demand among our clients.”
Those markets are indeed set to grow fast in the years ahead. The global Net Zero ambition is expected to expand renewable energy by more than €1tn in value by 2030 in just the European and North American markets and private interest in green investments – ranging from green bonds to physical assets – has grown exponentially in recent years.
Richard Nourse, who founded Greencoat in 2009, said: “We are all delighted to have found a partner in Schroders who sees the potential of our business and believes deeply in our mission to build a global leader in renewables investing. We are extremely proud of what the brilliant team at Greencoat has together achieved.”