Financial services holding company 1251 Capital Group has acquired an undisclosed stake in infrastructure investment firm Greenbacker.
Greenbacker said the new partnership will position Greenbacker for further growth by leveraging the 1251 Capital team’s product distribution expertise.
“It will also expand Greenbacker’s capital base, enabling the firm to pursue strategic transaction opportunities including potential corporate acquisitions and investments in other managers of renewable assets,” the company said.
Greenbacker invests in income-producing renewable energy power facilities and energy-efficiency projects that sell power under long-term contracts.
As part of the partnership, a member of 1251 Capital’s senior management team will also join Greenbacker’s board of directors.
David Sher, co-CEO of Greenbacker, said, “We are very excited to announce our new strategic partnership with 1251 Capital Group, which we believe will position Greenbacker for even stronger growth by combining our market-leading investment management expertise in the middle market renewable energy sector with the world-class distribution and corporate development capabilities of the 1251 Capital team.”
John Hailer, president of 1251 Asset Management, said: “In our view, the opportunities in the sustainable infrastructure market are enormous and have the potential to offer socially-conscious investors an interesting, non-correlated source of tax-efficient yield for their portfolios.”
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