Specialist independent investment manager Redwheel will be acquiring the assets of Ecofin, a specialist investor in sustainable infrastructure and environmental solutions, which has US$1.4 billion in AUM. It is hoped that the Ecofin team will bring in its experience of investing in companies enabling systemic decarbonisation of the economy. “Their expertise is complementary to our existing thematic sustainability capabilities and is aligned with our overall focus on fundamental, long-term specialist investment strategies,” said Redwheel CEO Tord Stallvik. In turn, Ecofin will benefit from Redwheel’s sustainability ecosystem Greenwheel, which powers the firm’s enhanced integration, transition and sustainable funds. “Ecofin’s extensive knowledge will broaden Greenwheel’s reach,” said Stallvik. “We are pleased that the team recognises the benefits of the long-term alignment that Redwheel offers.” The transaction is expected to close in Q3 2024. The financial terms have not yet been disclosed.
