After 9 months of fundraising, Copenhagen Infrastructure Partners’ (CIP) new fund, Copenhagen Infrastructure III (CI III), has had its sixth close on December 27, 2017 with total commitments reaching EUR ~2.8 bn. CIP targets a fund size of EUR 3.0 bn and CI III will be open for investor subscription until March 2018. The fund has a EUR 3.5 bn hard cap.
“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 EUR 3bn target size by final close in March”, says Jakob Baruël Poulsen, Managing Partner in Copenhagen Infrastructure Partners.
The sixth close LP commitments are committed by institutional investors from Australia, Israel, the Netherlands and Norway which complement and expand the current primarily Nordic and UK-based investor base.
The investment strategy of CI III will be a continuation of the successful predecessor fund, CI II, which is now fully committed and on track to provide investors with long term stable cash flows and above target investment returns.
CI III has a strong investment pipeline which includes ownership or exclusivity rights to 17 projects currently being developed towards financial close. The portfolio amounts to around EUR 3 bn in potential investment volume and provides diversification across primarily offshore wind, onshore wind, solar pv and biomass in North America, Northwestern Europe and Asia Pacific.
“The development of the investment pipeline for CI III has been very positive since first close, reflecting CIP’s very strong project sourcing base and the team’s ability to execute large scale and complex energy infrastructure projects”, adds Jakob Baruël Poulsen.
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.