v3.26.1
Related Parties
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Related Parties
Note 12. Related Parties
The Company provides, through GCM and GDEV Management Holdings LLC, investment management services to Greenbacker Renewable Opportunity Zone Fund LLC (“GROZ”), GDEV I, GDEV II and GREC II. As a result, the Company records Investment Management revenue on the Consolidated Statements of Operations.
The following table presents investment management revenue for the periods indicated below:
Three months ended
June 30,		Six months ended
June 30,
(in thousands)
2026202520262025
GROZ:
Management fees
$73 $73 $145 $145 
GDEV I:
Management fees584 495 1,101 956 
GDEV II:
Management fees653 696 1,299 1,337 
GREC II:
Management fees943 1,148 1,895 2,312 
Administrative fees
$857 $21 $959 $973 
Management fees, Performance participation fees, and Administrative fees are included in Investment Management revenue on the Consolidated Statements of Operations.
The following table presents investment management fees receivable as of June 30, 2026 and December 31, 2025:
(in thousands)
June 30, 2026December 31, 2025
GROZ:
Management fees receivable$48 $73 
GREC II:
Management fees receivable
943 5,885 
Administrative fee receivable(1)
$1,166 $3,901 
(1)Includes amounts owed from GREC II of $0.9 million and $1.8 million related to administrative fees and $0.3 million and $2.1 million related to capitalized labor costs pursuant to the Administration Agreement (as defined in the GREC II discussion below) as of June 30, 2026 and December 31, 2025, respectively.
Management fees, Performance participation fees, and Administrative fees owed to the Company are included in Accounts receivable, net on the Consolidated Balance Sheets.