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Deal Maker of the Year Awards 2013
WINNER - JOOST BERGSMA DEAL: Glennmont holds first close on eur200m
NAME: Joost Bergsma COMPANY: Glennmont Partners POSITION: CEO and Director TEL: 0203 675 0181 EMAIL: Joost.bergsma@glennmont.com
BIO
Joost Bergsma founded Glennmont Partners in 2013 completing a spin out of BNP Paribas Clean Energy Partners which had been established since 2008. At the end of 2010, Glennmont Partners finalised its fund raising at Euro435m for its first clean energy fund. In 2013, Glennmont raised the first tranche of its second clean energy fund.
Joost has been active in utility banking and fund management for more than twenty years and has specialised in the power sector and clean energy.
In this time, he has devised and implemented
asset and exit strategies, raising in excess of EUR 10bn of sales proceeds for energy clients. He is actively involved in originating new deals through the fund’s development partners, and regularly speaks at conferences and industry events. As founding partner and CEO of Glennmont Partners, Joost has been involved in negotiations of some of the fund’s key wind and solar transactions. Previously, Joost worked at SG Warburg & Co., ABN AMRO and BNP Paribas. He has read law at Leiden University (the Netherlands) and has an MBA from INSEAD (France).
DEAL OVERVIEW
Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure investing in power generation through non-listed assets from proven technologies including onshore wind, and combustion based biomass.
solar Glennmont
was established in 2008 with Joost Bergsma as Managing Partner and CEO. It launched its first Clean Energy Fund, in 2009 raising €437m within 18 months – making it the largest pure-play clean energy investment fund in Europe.
went onto complete a management buyout of BNP Paribas Clean Energy Partners from in March 2013.
In
August 2013, Glennmont announced the launch of its second fund investing in clean energy infrastructure projects in Europe and that €200 million had been committed at first close by a combination of both new and existing investors from its first fund. This was one the largest clean
energy infra fund launches in the current year 2013.
The life of the fund is 10 years and it has
a target size of up to €450 million and continues to be open for further investment. Glennmont’s funds are targeted at institutional investors from all over world.
Glennmont
The Investment philosophy delivers reliable income streams through exposure to a stable, but rapidly expanding, global market: alternative energy generation. With extensive expertise in the renewable energy, Glennmont collaborate with stakeholders to unlock the full value of investments over time.
All of Glennmont’s projects are long term and low-risk, with predictable returns. follow an
Glennmont aggregation strategy, investing in
complementary assets in large markets including the UK, Ireland, France, Portugal and Italy. Its portfolio is diversified to reduce technology,
resource and regulatory risk – but aggregated to deliver cost synergies, refinancing opportunities and, eventually, a profitable exit. Since 2007, Glennmont Partners has invested over EUR 1bn in 14 clean energy infrastructure projects generating in excess of 350 MW in total. Glennmont has invested into a series of landmark deals.
The
company is currently constructing a 38 MW straw- fired biomass plant in Sleaford; in France it owns one of largest solar parks of 55 MW consisting of 5 solar parks all mounted on car park roofs and in Italy it owns the third largest individual solar farm of 48MW.
Glennmont’s founding members share more than 40 years’ experience in renewable energy. The specialist investment team has been carefully selected for their proven, complementary skills – ranging from technical and developmental through M&A and project finance to operations and asset management in our four focus technologies: wind, solar, biomass and small hydro. The team have unrivalled access to all key stakeholders within the alternative energy market, such as developers, equipment manufacturers and debt capital providers. With multiple nationalities on the team – speaking a wide range of European languages – we excel at building true, long-term partnerships. This powerful blend of know-how and networks positions Glennmont to guide investors, proactively drive solutions and deliver sustained performance with integrity.
Glennmont takes a proactive, hands-on approach to asset management – with periodic reviews against contractual and stretch performance measures.
Glennmont’s
transparency means investors can rest assured there will be no surprises.
UK
commitment to