Greenbacker Capital Management

Greenbacker runs on a dual structure: Greenbacker Capital Management raises and manages institutional and individual investor capital, while Greenbacker IPP — an independent power producer — directly develops, owns and operates the renewable energy projects. That integration gives the firm an owner-operator perspective on sourcing, financing and fleet management, which it uses to originate pipeline for the funds.

CEO and Head of Infrastructure Dan de Boer oversees the investment platform, having joined in 2023 after leading renewable investing at Allianz Capital Partners of America. On the IPP side, Managing Partner and CIO Benjamin Baker runs the GDEV vehicle, which he has led since June 2020, bringing prior experience at Hudson Clean Energy Partners and GE Energy Financial Services.

The firm deploys capital across utility-scale and distributed-generation solar, wind and battery storage, along with adjacent sustainable-infrastructure assets. Its in-house technical team has managed the construction of over 2 GW of projects, and the firm actively pursues repowers and co-located storage to extract value from existing sites.

Greenbacker operates both channels: it forms and distributes multi-investor vehicles — including its publicly registered renewable energy program — and it commits capital directly through the independent power producer. Tax-equity and project-finance relationships support individual asset-level financing alongside fund-level equity.

Its operational fleet and development pipeline span 35 states, with corporate offices in New York, Portland (Maine), Montpelier (Vermont) and Denver (Colorado). This distributed footprint supports local development and hands-on asset management.

Greenbacker is independent of Allianz; the link is talent-driven. CEO Dan de Boer formerly led renewables at Allianz Capital Partners of America, and multiple senior hires — such as CFO Carl Weatherley-White and head of asset management Vladimir Shifrin — bring infrastructure-financing backgrounds from firms including Barclays, Advantage Capital and Cypress Creek Renewables.

Greenbacker frames its entire strategy around accelerating the energy transition, and it tracks clean energy production and capacity additions as outcome metrics. The firm does not separately disclose a philanthropic foundation or impact-first carve-out; the environmental result is claimed as a byproduct of the core investment activity.