Copenhagen Infrastructure Partners (CIP) has initiated the fundraising process for its new fund, Copenhagen Infrastructure III K/S, which will now be open for investor subscription.
The new fund has already been backed by a strong group of Anchor Investors, PensionDanmark (DK), KLP (Kommunal Landspensjonskasse, NO), Lægernes Pension (DK), JØP (Juristernes og Økonomernes Pernsionskasse, DK) and DIP (Danske civil- og akademiIngeniørers Pensionskasse, DK).
Copenhagen Infrastructure III has received commitment of 8.8 bn DKK (~1.2 bn EUR) primarily from the Anchor Investor group, marking a strong start for CIP’s fundraising process.
“It is an important proof of investor confidence in CIP’s approach to energy infrastructure investments, that these leading institutional investors have decided to back our new fund as Anchor Investors. We are very excited for the commitments from the Anchor Investor group, and look forward to continue the fundraising process with a larger group of prominent investors, which have indicated their interest, including our existing investors in Copenhagen Infrastructure II. The fund is seeking to provide attractive long term cash flows to investors with relatively low risk.”, says Christian Skakkebæk, Senior Partner in Copenhagen Infrastructure Partners.
The fundraising follows the recent successful investment of the 2 bn EUR commitment to Copenhagen Infrastructure II, which has been invested in 10 energy infrastructure projects. Copenhagen Infrastructure II had its final closing in June 2015.
“Copenhagen Infrastructure III will have the same focus as CIP’s previous funds, being investments in energy infrastructure with stable returns, including onshore and offshore wind, solar PV, biomass fired power plants, transmission grid systems, etc. The energy infrastructure market currently shows an attractive growth due to the strong commercial breakthrough recently in several renewable energy technologies.”, adds Christian Skakkebæk.
A number of attractive exclusive investment opportunities, originated in cooperation with CIP’s industrial partners, have already been identified for Copenhagen Infrastructure III.
The primary geographical scope of the fund is Northern and Western Europe as well as North America. The fund is a 20-year “build-and-hold” fund, which means that the fund focus on greenfield investments and as a base case expects to hold the investments throughout the entire commercial lifetime of the assets.
Copenhagen Infrastructure Partners has so far three funds under management with a total commitment of ~25 bn DKK (~3.3 bn EUR).
About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, Taipei, New York, Tokyo, Utrecht, and London.
CIP manages six funds and has more than EUR 8 bn under management. CI I, CI A I and CI A II have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.
CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.