Glentra announces successful final close of debut fund at €565 million with €230 million in co-investment capital

COPENHAGEN, DENMARK, October 1st, 2025.

Glentra Capital has successfully completed the final close of its debut fund, Glentra Fund I, with total commitments of €565 million and an additional €230 million allocated for co-investments. The fund has institutional investors from the Nordics, UK, USA, and Canada.

Securing such a substantial capital raise for its first fund in today’s challenging fundraising environment marks a major milestone for Glentra. The result underscores investor trust in both the experience and strength of Glentra’s team and the attractiveness and differentiation of the investment strategy focused on market-innovative and customer-centric energy transition infrastructure in the lower mid-market.

“Raising €565 million for our debut fund, alongside €230 million of co-investment capital, from institutions in Europe and North America is an extraordinary achievement. We are proud of this milestone and grateful to our investors for their trust,” said Steen Lønberg, Partner and Head of Capital Formation and IR. “At a time when many first-time managers struggle to raise capital, our successful close demonstrates the confidence investors have in our team, strategy, and ability to deliver energy transition infrastructure with attractive returns.”

Glentra Fund I is already well underway with €350 million committed to investments plus €165 million from co-investors across four market-innovative companies in Europe and the US.

• DVP Solar – agri-PV and BESS projects in Germany, Italy, and France

• Third Pillar Solar – floating solar PV on man-made water bodies in the US

• Kyoto – electrothermal heat-as-a-service solutions to European industries

• energyRe – diversified power and transmission infrastructure in the US

Glentra engages as an active owner and provides both long-term risk capital to roll out infrastructure and industrial know-how to support management scaling the business.

The fund plans to create a portfolio of 6-7 investments and roll out more than 1 GW low-cost reliable energy infrastructure before 2030. Locally produced, this enables countries and industries to improve cost competitiveness and advance their energy independence and decarbonization objectives with more than 1 million tonnes of CO₂ abated annually.

“Glentra’s mission is to accelerate the transition to a new sustainable energy system. We focus on infrastructure providing cost competitiveness, reliability, energy independence, and decarbonization. We invest in market-innovative companies delivering customer-centric energy infrastructure solutions to communities and industries.” said Henrik Tordrup, Managing Partner and Head of the Investment Team. “The velocity of the energy transition continues at a high pace with attractive investment opportunities in power generation, storage, grid, and electrification of heat and transport among others. With our debut fund and a team of energy specialists, we have the capital and know-how to successfully execute investments in the lower mid-market and support management teams in rolling out infrastructure and scaling businesses.”

Glentra was founded in 2022 and has a team of more than 20 professionals across offices in Copenhagen, London, and New York. The firm brings deep industrial, financing, and risk management expertise within energy projects to support portfolio companies.

Contact

Steen Lønberg, Partner

Phone (switchboard): +45 53 55 10 10

Info@Glentra.com

About Glentra Capital

Glentra Capital was founded in 2022 by former senior executives from Copenhagen Infrastructure Partners and other power/energy companies, in partnership with Novo Holdings and PKA Pension.

Glentra’s mission is to accelerate the transition to a new sustainable energy system. Focus is on infrastructure providing cost competitiveness, reliability, energy independence, and decarbonization.

Glentra Fund I, launched in 2023 and closed for any further investor commitments by September 2025, is a mid-market, value-add infrastructure fund investing in energy and decarbonizing infrastructure through market-innovative companies. The fund typically invests EUR 75–250 million, primarily through controlling majority positions. Target assets and activities include power generation, energy storage, grid, and electrification of heat and transport, energy efficiency and services, and carbon removal.

With increasing demand for cost-effective energy and decarbonization solutions, Glentra invests in and capitalizes companies for infrastructure roll-out. Leveraging our capital and industrial and financial track record, Glentra supports management teams de-risking and financing projects and scaling businesses to create value.

The firm has more than 20 employees across offices in Copenhagen, London, and New York.

Legal disclaimer

This release does not constitute an offer to sell or the solicitation of an offer to purchase any security nor any fund managed by Glentra Capital P/S ("Glentra Capital"). The information, estimates, and numbers contained in this communication are highly indicative and provided on a non-reliance, “as is”, “as available”, and illustrative basis only as of the date of this release, with no guarantee of completeness, accuracy, or timeliness. Glentra Capital is authorised and regulated by the Danish Financial Supervisory Authority.

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