Copenhagen Infrastructure Partners’ (CIP) new fund, Copenhagen Infrastructure III (CI III), held a final close on March 23, 2018 at the EUR 3.5 billion hard cap exceeding the EUR 3.0 billion target fund size. The fund obtained commitments from 42 institutional investors comprised of pension companies, insurance companies, family offices, and asset/fund managers. The fund held its first close 12 months ago.
“CIP is very pleased to reach a CI III final close with a large and international group of 42 institutional blue chip investors. CI III broadens CIP’s investor base to include a diverse range of investors in Australia, Asia, continental Europe, UK, and Israel, which complements the primarily Nordic investors in the predecessor funds. Nearly all existing investors in CI II committed new funds to CI III” said Jakob Baruël Poulsen, Managing Partner at CIP. “With total commitments of EUR 3.5 bn corresponding to the fund’s hard cap, CIP is in a strong position to execute the fund’s investments in a large pipeline of attractive energy infrastructure projects sourced and developed over recent years.”
CI III has been formed to primarily invest in projects in regulated and long term contracted energy infrastructure and has a strong investment pipeline which includes ownership or exclusivity rights to more than 15 projects currently being developed towards financial close. The portfolio amounts to around EUR 3 billion in potential investment volume and provides diversification across offshore wind, onshore wind, solar PV, biomass/waste-to-energy, geothermal, and reserve capacity in North America, Northwestern Europe and Asia Pacific. The investment strategy of CI III will be a continuation of the successful predecessor fund, CI II, which is committed and on track to provide investors with long term stable cash flows and above target investment returns.
“The strong demand from Nordic and international institutional investors for the new fund, CI III, is a testament to CIP’s energy infrastructure platform, investment approach, and investment track record. With a highly experienced investment team comprising both technical and financial experts and a focus on greenfield investments providing stable cash flows over 20 years, CIP provides an attractive offering to the institutional investors seeking exposure to energy infrastructure,” said Christian Skakkebæk, Senior Partner at CIP.
At the beginning of the year CIP marked its five-year anniversary of the company’s formation in cooperation with founding investor PensionDanmark establishing itself as one of the fastest growing and largest fund managers within energy infrastructure in both a European and global context. As of today, CIP is among the Top 10 global energy infrastructure fund managers and among the Top 3 in Europe according to market analysts’ league tables.
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.