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RBS to provide depositary services to Nuveen renewable infra fund

depositary, RBS, Nuveen European Core Renewable Infrastructure Fund, RBS International Depositary Services will serve as the depositary for the new Nuveen European Core Renewable Infrastructure Fund following its appointment by the board of Glennmont Partners.

RBS International's Luxembourg branch is also providing bank accounts to the fund.

London-based fund manager Glennmont Partners, which focuses solely on investment in clean energy infrastructure, chose RBS International as the fund's depositary to build on its existing partnership.

In 2015, RBS International helped Glennmont with its first fund vehicle.

The latest open-ended fund from Nuveen has an initial raising of €700 million and seeks to generate clean power and lower CO2 emissions by investing in brownfield, renewable energy assets and projects across Europe, including the Netherlands, the UK, France, Spain, Italy, the Nordics, Germany and the other Benelux countries.

Matthew Hiscock, director, alternative funds at RBS International Depositary Services, said its appointment by the board of Glennmont "is testimony to the long-standing relationship we have developed with the team since supporting them with their first fund in 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," Hiscock added.

Glennmont has more than €2.7 billion of assets under management across sites throughout Europe.

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