Pushing the “green” product pedal for clients, including RIA and family office investors, Greenbacker Capital announced its purchase of two wind power facilities in Iowa from BlackRock Real Assets’ Global Renewable Power. This is the second “bilateral” transaction from BlackRock for Greenback that has happened this year.
Greenbacker’s mission is to acquire and operate income-producing sustainable assets in North America. Charlie Wheeler, co-CEO of the firm, said in a statement that they are “thrilled” to build up a presence in the wind energy sector “as we continue to execute on our long-term objective of providing RIA and family office investors with investments in real-asset renewable energy projects that have the potential to generate strong, stable cash flows and solid capital appreciation.”
In its efforts to build sustainable investments for RIAs, the company has seen other trends in this area, including more of today’s current investors adopting green issues having seen the importance to the next generation, and the rising demand for green vehicles coming from kids and grandchildren of RIAs and family office investors.