# Greenbacker Capital Management

Greenbacker Capital Management is an Asset Manager based in Portland, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Portland, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2011
- **Assets under management:** Undisclosed
- **Website:** greenbackercapital.com
- **LinkedIn:** https://www.linkedin.com/company/greenbacker

## Regulatory record

- **CRD number:** 277101
- **SEC file number:** 801-106529
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/277101

## About

Future of Fleets | Zenobē acquired Revolv in March 2026, expanding its U.S. fleet electrification footprint. Zenobē now operates Revolv's 13 customer sites and more than 100 electric trucks across California, with additional projects under development.

## Sectors

- Energy Transition & Renewables
- Infrastructure

## Offices

- Portland, ME
- Montpelier, VT
- Denver, CO

## People

- Dan de Boer — Chief Executive Officer and Head of Infrastructure
- David Sher — President of Greenbacker Capital Management
- Carl Weatherley-White — Chief Financial Officer and Head of Capital Markets
- Benjamin Baker — Managing Partner and Chief Investment Officer of GDEV

## Questions

### How does Greenbacker structure its investment platform?

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.

### Who runs investment decisions at Greenbacker?

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.

### Which asset classes does Greenbacker target?

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.

### Does Greenbacker participate in fund commitments or only direct deals?

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.

### Where does Greenbacker’s project portfolio sit geographically?

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.

### What is Greenbacker’s relationship to Allianz Capital Partners or other prior firms?

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.

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Last updated: 2026-06-03T20:00:00.000Z

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