Holding Company with Extensive Expertise in Asset Management Sector to Take Equity Stake in Greenbacker, Contribute to Further Acceleration of Growth through Product Distribution Capabilities

New York, NY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Greenbacker Group (“Greenbacker” or the “firm”), a leading national investment firm focused on the sustainable infrastructure sector, today announced that it has entered into a strategic partnership with 1251 Capital Group, a financial services holding company that invests in differentiated, active asset managers and leverages its unique expertise in multi-channel product distribution to accelerate growth.

The new partnership will position Greenbacker for further accelerated growth by leveraging the 1251 Capital team’s extensive product distribution expertise and growing presence in the asset management sector. It will also expand Greenbacker’s capital base, enabling the firm to pursue strategic transaction opportunities including potential corporate acquisitions and investments in other managers of renewable assets.

Under the agreement, 1251 Capital will also take an equity stake in Greenbacker and a member of 1251 Capital’s senior management team will join Greenbacker’s Board of Directors. Additional terms of the partnership were not disclosed.

With more than $1B in operating assets as of Nov. 30, 2020, Greenbacker invests in a diversified portfolio of income-producing renewable energy power facilities and energy-efficiency projects that sell power under long-term contracts to highly credit-worthy counterparties such as utilities, municipalities and corporations. The firm has recently expanded its presence in energy projects that are at the forefront of innovation in the renewable energy sector, including power storage facilities and small hydroelectric power stations.

David Sher, Co-CEO of Greenbacker, said, “We are very excited to announce our new strategic partnership with 1251 Capital Group, which we believe will position Greenbacker for even stronger growth by combining our market leading investment management expertise in the middle market renewable energy sector with the extensive distribution and corporate development capabilities of the 1251 Capital team. 1251 Capital is a leading, multi-boutique holding company led by a seasoned team with years of experience helping asset managers like ourselves to grow and thrive. This alliance will bring Greenbacker the benefits of working with a knowledgeable partner who can help us evaluate the many strategic opportunities in the rapidly growing sustainable infrastructure market. It will also expand our capital base while enabling us to maintain our unique investment approach and our exclusive focus on generating the best outcomes for our investors.”

John Hailer, President of 1251 Asset Management, said, “We are very impressed with the success of Greenbacker Group and its accomplished executive team. In our view, the opportunities in the sustainable infrastructure market are enormous and have the potential to offer socially-conscious investors an interesting, non-correlated source of tax-efficient yield for their portfolios. We are thrilled to be partnering with Greenbacker.”

About Greenbacker Capital Management

Greenbacker Capital Management LLC is an SEC registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit www.greenbackercapital.com.

About 1251 Capital Group

1251 Capital Group, Inc. is a Financial Services holding company with deep investing and operating experience in the asset management and insurance sectors. The firm was established to invest the capital of its founders and a select group of like-minded, outside shareholders consisting primarily of prominent family offices. 1251 is structured as a corporate holding company with a permanent capital base, aligning the 1251 organization, management teams, and 1251’s shareholders around the common objective of creating shareholder value over the long-term. In addition, 1251 is an experienced value-added operating partner that can provide the strategic resources necessary to accelerate growth in the businesses with which it partners, empowering management teams to build enduring businesses that achieve their full potential. For more information, please visit www.1251capital.com.

Media Contacts

Greenbacker Capital Management
Joseph Kuo / Chris Clemens
Haven Tower Group
424.317.4851 | 424.317.4854
Mediarelations@greenbackercapital.com

or

1251 Capital Group
Michael Wilson, 617-273-9482
info@1251capital.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.