Copenhagen Infrastructure Partners (CIP) has raised €3bn for its renewable energy generation investment fund.
The manager said the CI Energy Transition Fund I (CI ETF I) was backed by investors across the Nordics, Europe, Asia-Pacific and North America with approximately a 50/50 split between existing investors in CIP funds and new investors.
As previously reported, New Zealand’s NZ Super Fund made a €129.5m commitment to the fund. In July last year, CIP announced an €800m first close for CI ETF I.
CIP said the fund’s investor base comprises about 65 institutional investors, primarily pension funds, life insurance companies, sovereign wealth funds, asset managers, and family offices.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Jakob Baruël Poulsen, managing partner in Copenhagen Infrastructure Partners, said: “We are very pleased to welcome a prominent group of existing and new institutional investors to CI ETF I and are delighted that investors share our confidence in and appetite for clean energy infrastructure projects and invest alongside CIP in the next phase of the energy transition.
“Solutions such as power-to-x will be key for countries and industries to take the next big leap within reaching the commitments of the Paris agreement and achieving energy independence. As an industry pioneer and one of the global market leaders in greenfield renewable infrastructure investments, CIP is uniquely positioned to invest in this segment.”
CI ETF I will primarily focus on greenfield projects in the OECD and aims to contribute to the decarbonisation of industries such as agriculture, aviation, shipping, chemical manufacturing, and steel production through the use of green fuels and feedstock and CO2-free fertilizers.
Blackstone acquires Nordea’s remaining shareholding in Luminor
With the purchase of 11.6% of Luminor Holding from Nordea, a consortium led by private equity…
Hollysys management to lead take-private deal at $1.8bn valuation
A consortium led by China’s Hollysys Automation Technologies management plans to take the…
Semiconductors ripe for private equity after CHIPS Act
A U.S. effort to bolster domestic semiconductor manufacturing is likely to spur more private…
The post Copenhagen Infrastructure Partners energy transition fund hits €3bn hard cap appeared first on Private Equity Insights.