Redwheel Acquires Ecofin, Builds Sustainable Investing
Key takeaways
- Redwheel, a specialist investment manager, acquires Ecofin, a leader in sustainable infrastructure investments.
- This move builds Redwheel's position in the green economy and expands their offerings for clients focused on sustainability.
- Both companies are committed to long-term, fundamentals-based investing in companies driving the transition to a sustainable future.
Redwheel, a specialist independent investment manager, announced that they have signed a definitive agreement to acquire the assets of Ecofin, a leading investor in sustainable infrastructure and environmental solutions.
As of May 31, 2024, Ecofin has about $1.4 billion in assets under management.
“We are excited to join Redwheel and we look forward to the opportunities this partnership offers to us and our clients,” said Ecofin President, Brent Newcomb. “Our team will bring to Redwheel our proven expertise in investing in companies that are enabling systematic decarbonisation of the economy. We have found compatible cultures and a shared ambition for the fundamental growth opportunities catalysed by the global transition to more sustainable economies.”
Redwheel CEO Tord Stallvik said, "The Ecofin team is one of the longest-standing specialists focused on sustainable infrastructure and related transition strategies. Their expertise is complementary to our existing thematic sustainability capabilities and is aligned with our overall focus on fundamental, long-term specialist investment strategies.
"The Ecofin team will benefit from Greenwheel, the sustainability ecosystem that powers our firm’s enhanced integration, transition and sustainable funds, and Ecofin’s extensive knowledge will broaden Greenwheel’s reach. We are pleased that the team recognizes the benefits of the long-term alignment that Redwheel offers.”
This acquisition shows Redwheel's promise to play an increasingly important role in the transition to a sustainable global economy. By combining their expertise, both companies will offer clients innovative and impactful investment solutions that contribute to a greener future.
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Source: Redwheel
