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Capital Dynamics raises $1.2 billion for latest clean energy fund

Capital Dynamics on Tuesday closed its most recent joint venture-type fund, Clean Energy and Infrastructure VII JV, with $1.2 billion, a company spokesman said.

Capital Dynamics' prior fund, Clean Energy and Infrastructure V, closed in the first quarter also with $1.2 billion.

The new fund will invest in high-quality, renewable energy generation projects.

Among the fund's three primary investors is the $228 billion California State Teachers' Retirement System, West Sacramento.

"Our joint venture investment with Capital Dynamics is in keeping with the implementation of CalSTRS collaborative model across all asset classes," CalSTRS spokesman Michael Sicilia said in an email. "The CalSTRS collaborative model creates long-term business relationships between CalSTRS and other long-term investors, including managers, to create efficient investment vehicles that produce attractive sources of return by effectively using the strengths of each investor."