Greenbacker Group teams up with 1251 Capital to pursue growth

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January 14 (Renewables Now) - New York-based Greenbacker Group, which invests in renewable energy and energy-efficiency projects, on Wednesday said it has partnered with investor 1251 Capital Group as it prepares to grow further.

Greenbacker will benefit from the other company's product distribution expertise, while also expanding its capital base in preparation for future strategic opportunities, including acquisitions and investments in other renewable asset managers.

As part of the deal, 1251 Capital will also acquire an equity stake in Greenbacker, which had over USD 1 billion (EUR 822m) in operating assets as of November 30.

"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," Greenbacker co-CEO David Sher commented.

(USD 1.0 = EUR 0.822)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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