We advised CBRE Investment Management in its acquisition of a majority stake in Geonova Oy, a fast-growing Finnish geothermal energy business that provides decentralised heating and cooling services using ground source heat pump technology.
CBRE Investment Management, on behalf of a fund managed by its Private Infrastructure division, has acquired an 80% stake in Geonova from current shareholders Helen and LämpöYkkönen. LämpöYkkönen will retain a 20% stake in Geonova. CBRE Investment Management has also made a further capital commitment to fund the future expansion of the business. The investment will form a core part of the strategy of CBRE Investment Management’s Private Infrastructure division to invest in infrastructure assets and technologies that support the decarbonisation of the built environment. CBRE IM intends to leverage the full capabilities of the CBRE platform to grow Geonova, by bringing exceptional infrastructure and real estate capabilities together.
CBRE Investment Management is a leading global real assets investment management firm with $142.5 billion in assets under management* as of 30 June 2024, operating in more than 30 offices and 20 countries around the world.