German-British joint venture to form renewables vehicle

Aream and Greentale Capital, stocked full of ex-Quercus staff, are looking to raise ‘substantial’ amounts from institutional investors to create an industrial-scale renewable energy platform.

German asset manager Aream has teamed up with newly formed platform Greentale Capital to establish a new renewable energy investment vehicle.

The pair have formed a joint venture to assist institutional investors in gaining exposure to opportunities in the renewable energy industry and hope to build on Aream’s experience in managing investment volume of more than €650 million in projects.

They will provide investment management and fundraising advisory services to the investment vehicle. Vinayak Bhattacharjee, partner of Greentale Capital, told Infrastructure Investor it is hoping to raise “quite substantial” amounts from investors for the vehicle, although it is currently only at the initial stage of approach.

Bhattacharjee formed Greentale in recent months following his role as a managing director at fund manager Quercus Investment Partners, alongside Matteo Fedeli, David Mandiya and Nicola Taylor, also all from Quercus.

“The renewable energy industry is changing and investors need to be playing into the trends,” he explained. “The vehicle will be something focused on the renewable industry with an industrial logic to it. We're going to use technology to bring much more of an industrial-scale activity around it. The end product will be an industrial-scale platform.”

Bhattacharjee added that Greentale will help Aream expand across Europe and in time, to investors in other parts of the world. Beyond the partnership with Aream, Greentale be looking towards real estate investments for a similar type of investor base.