Glennmont selects RBS as depository for new fund 03 November 2022UK Reporter: Lucy Carter
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Glennmont Partners (Glennmont) has selected RBS International Depositary Services (RBS) to act as depositary for its Nuveen European Core Renewable Infrastructure Fund. The firm’s Luxembourg branch will provide the fund’s bank accounts.
This collaboration follows the company’s banking support for Glennmont’s first fund, in 2015.
The Nuveen European Core Renewable Infrastructure Fund is an open-ended fund with an initial raising of €700 million. Designed to reduce CO2 emissions through the use of clean energy, Glennmont’s exclusive focus, the fund will invest in renewable energy assets and products across Europe.
Glennmont has 15 years of experience in clean energy infrastructure investment, and currently holds more than €2.7 billion in assets under management.
Matthew Hiscock, director of alternative funds at RBS, says: “Our appointment by the Glennmont board to act as their chosen depositary for [the fund] is testimony to the long-standing relationship we have developed with the team since 2015.
‘’We are delighted to partner on this latest fund, showcasing our wider banking capability through the provision of depositary services and expanding our growing client base of alternative funds through our respective UK and Luxembourg offerings.’’
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