Greenbelt Capital Partners

What Greenbelt Capital Partners does

Greenbelt Capital Partners is a growth-focused middle-market private equity firm specializing in control and significant minority investments across the energy transition value chain. Founded in 2021 when the energy team spun out from Trilantic North America, the firm operates from Austin, Texas and New York and manages over $3 billion in assets under management, anchored by its $1 billion Fund III that closed at hard cap in June 2025. The firm targets equity investments of $100-$250 million in change of control buyouts, recapitalizations, generational transitions, and growth capital opportunities.

The firm's portfolio is constructed as an integrated ecosystem across utility products, utility services, generation, storage, electrification, and software. Notable platforms include CTC Global (ACCC advanced conductor technology installed in 1,250+ projects across 60 countries), American Wire Group (wire and cable supply), Peak Utility Services Group (~2,800 employees across 15 U.S. states), Saber Power Services (substation and high-voltage infrastructure), Intersect Power (utility-scale solar and storage, sold to Google for $4.75 billion in March 2026), Powin (battery energy storage), SemaConnect (EV charging), AEGIS Hedging Solutions (commodity hedging SaaS), and Unirac (solar PV mounting).

Greenbelt's business model is fund management, generating revenue through management fees (typically 1.5-2% of AUM) and performance-based carried interest on successful exits. The firm has executed 235+ M&A and financing transactions and committed $6 billion+ in equity capital across 38 platform companies, leveraging deep relationships with co-investors including Schroders Capital, StepStone Group, Blackstone Credit, Wafra, Sound Point Capital, TPG Rise Climate, and Endeavour Capital. Leadership is anchored by CEO Chris Manning and Managing Partner Glenn Jacobson, with a senior team largely drawn from Trilantic North America and Lehman Brothers Merchant Banking.

Name

Greenbelt Capital Partners

Legal name

Greenbelt Capital Management L.P.

Website

https://greenbeltcapital.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Greenbelt Capital Partners is a middle-market growth private equity firm founded in 2021, managing over $3 billion focused exclusively on energy transition investments across utility products, services, generation, storage, and electrification. The firm targets $100-$250 million equity checks in control and co-control transactions.

Ownership category

akta.pro rank

Product category

Private Equity / Energy Transition Investing

NAICS

Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799)

akta.pro primary industry

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)

akta.pro secondary industries

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD), Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA)

Keywords

• Private equity firm
• Growth equity investments
• Energy transition investing
• Middle-market buyouts
• Infrastructure private equity

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations

Revenue model

1. Private equity fund management: Greenbelt Capital Partners generates revenue through management fees and performance-based carried interest from its private equity funds. The firm closed its inaugural Fund III at a hard cap of $1 billion in June 2025, focused on investments in companies driving the energy transition and New Energy Economy.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Greenbelt Capital Partners is a growth-oriented middle-market private equity firm that makes control and significant minority investments in companies across the energy transition value chain. The firm invests $100-$250MM of equity per transaction through change of control buyouts, recapitalizations, generational transitions, and growth capital, with assets under management exceeding $3 billion across its energy-focused funds.

Product overview

Greenbelt Capital Partners is a growth-oriented middle-market private equity firm with over $3 billion in assets under management, focused on control and significant minority investments across the energy sector, ranging from late-stage growth equity to private equity to infrastructure development. The firm targets investments of $100-$250MM of equity typically in change of control buyouts, recapitalizations, generational transitions, and growth capital. The portfolio spans multiple segments of the New Energy Economy including: utility products (American Wire Group, BRUSH Group, CTC Global), utility services (Peak Utility Services Group, Saber Power Services), renewable and distributed generation (Intersect Power, ION Solar, Unirac), energy storage/infrastructure (Powin), transportation/electrification (SemaConnect), and software/digitization (AEGIS Hedging Solutions). The firm operates its flagship Greenbelt Capital Partners III L.P. fund with $1 billion in committed capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Greenbelt Capital Partners III L.P. Greenbelt's flagship private equity fund focused on investments in the New Energy Economy, targeting control or co-control transactions in the $100-$250MM equity range across energy transition companies.

Quantifiable outcome

• Sold Intersect Power to Google for $4.75 billion plus assumption of debt, representing a landmark transaction in clean energy platform evolution.
• +4 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered minor.

• ORIX Capital PartnersminorOthers · 1 March 2026ORIX Capital Partners sold Peak Utility Services Group to Greenbelt Capital Partners. The transaction was subject to customary regulatory approvals and closing conditions. Peak is a provider of utility infrastructure maintenance, repair, and upgrade services operating across 15 U.S. states.
• Google (Alphabet)minorOthers · 1 December 2025Google acquired Intersect Power for $4.75 billion plus assumption of debt. Greenbelt Capital Partners was an investor in Intersect Power and completed the sale to Google in March 2026, resulting in Google's acquisition of Intersect's digital power business and concurrent spinout of grid-tied clean energy assets to IPX Power.
• Oaktree Capital ManagementminorOthers · 1 November 2023Oaktree Capital Management sold Saber Power Services to an investor group led by Greenbelt Capital Partners. Greenbelt partnered with Schroders Capital, StepStone Group, and Wafra Inc. for the acquisition, with key Saber management retaining a significant stake.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Brookfield Asset Management: Brookfield operates the largest private renewable and energy transition platform globally through Brookfield Renewable and Brookfield Infrastructure. It is a broad incumbent competing for the same large-scale energy transition deals Greenbelt targets, but at materially larger check sizes and with longer-duration capital.
• Schroders Capital Infrastructure: Schroders Capital is a long-tenured infrastructure and private markets investor that has co-invested alongside Greenbelt in Saber Power Services. It is a broader incumbent with diversified mandates, comparable on energy transition infrastructure deals where both can lead or co-lead.
• Blackstone Infrastructure Partners: Blackstone Infrastructure invests across energy infrastructure, digital, and transport, with a growing focus on the energy transition. It is a broad incumbent with materially larger fund sizes and a track record of competing for, and winning, the same control transactions Greenbelt targets.
• Stonepeak Infrastructure Partners: Stonepeak is a dedicated infrastructure manager investing in communications, energy transition, and transport. Comparable as a specialist infrastructure investor pursuing energy transition deals, though at larger fund sizes and with a broader infrastructure mandate than Greenbelt's energy-only focus.
• KKR Infrastructure: KKR's Global Infrastructure platform invests across digital, energy transition, and traditional infrastructure at scale. It is a broad incumbent with capital and brand advantages, competing for the same utility-scale renewables and grid modernization opportunities that anchor Greenbelt's investment thesis.

Emerging players

• ArcTern Ventures: ArcTern Ventures is an early-stage climate tech VC focusing on energy, mobility, and circular economy. It is comparable in thematic mandate but at an earlier stage than Greenbelt, and its portfolio companies may become future Greenbolt growth-stage investments.

Direct peers

• TPG Rise Climate: TPG Rise Climate is the most direct peer, also a climate-focused growth/PE investor that has co-invested with Greenbelt in Intersect Power and IPX Power. Both pursue control and growth equity in energy transition platforms at overlapping check sizes, competing for the same category-defining deals.
• Generate Capital: Generate Capital is a sustainable infrastructure financier and asset owner, operating as a long-duration capital provider to distributed energy, storage, and electrification platforms. It is comparable as a specialist capital provider underwriting the same energy transition thesis that Greenbelt underwrites via PE control deals.
• Energy Impact Partners: Energy Impact Partners is a venture and growth equity investor focused on decarbonization, comparable in thematic focus to Greenbelt. Both concentrate on the "missing middle" between energy innovation and scaled execution, though EIP leans earlier-stage than Greenbelt's control-PE posture.

Regional players

• Antin Infrastructure Partners: Antin is a European-led infrastructure fund manager investing in energy, transport, and digital. It is comparable as a sector specialist but is a regional player focused primarily on Europe, whereas Greenbelt's portfolio is concentrated in North America with select UK exposure through BRUSH.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greenbelt-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenbelt Capital Partners