Redwheel, the specialist independent investment manager, has completed the purchase of the assets of Ecofin, a specialist investor in sustainable infrastructure and environmental solutions, from Tortoise Capital. The deal was first announced in July 2024. Ecofin brings approximately $1.5 billion of assets under management (as of August 31, 2024) and 14 team members.
The acquisition enhances Redwheel’s existing thematic sustainability capabilities by bringing global public equity strategies across renewable infrastructure, energy transition, and sustainable infrastructure, including a London-listed investment trust, Ecofin Global Utilities & Infrastructure Trust plc. This purchase aligns with Redwheel’s commitment to fundamental, long-term, specialist investment strategies and driving the decarbonisation of economies, which is supported by Greenwheel, Redwheel’s in-house team of sustainability experts.
Speaking about the completed acquisition Redwheel CEO, Tord Stallvik, said: “The sustainable transition offers long term structural growth opportunities for Redwheel and our investors. The addition of Ecofin’s strategies complements our existing sustainable thematic range across both public and private markets, bolstered by our Turquoise partnership and Greenwheel’s research expertise.”
Brent Newcomb, Ecofin President, said: “Joining Redwheel is a significant milestone for Ecofin and our clients. We are excited to marry our expertise with our colleagues at Redwheel. Together, we look forward to delivering the financial benefits of the transition to more sustainable economies.”
