CIP grows green war chest
Latest fund has raised €2.8bn by sixth close and is open till March
Copenhagen Infrastructure Partners (CIP) has raised Dkr21bn (€2.8bn) for its Copenhagen Infrastructure III fund, which had its sixth close on 27 December.
CIP is targeting €3bn for the fund, which will be open until March next year, and will invest in on- and offshore wind, solar and biomass projects in North America, Northwestern Europe and Asia Pacific.
The fund has a hard cap of €3.5bn.
The sixth close included commitments from institutional investors from Australia, Israel, the Netherlands and Norway, CIP said.
It added that the fund has a strong investment pipeline, including ownership or exclusivity rights to 17 projects currently being developed towards financial close.
CIP managing partner Jakob Baruël Poulsen said: “We are very pleased to welcome a very prominent international group of new investors into the fund.
“Based on our current dialogues with other prominent institutions, which have also indicated their interest to invest, we expect the fund to exceed the €3bn target size by final close in March.”