Copenhagen Infrastructure Partners finalized fundraising for its fifth flagship fund at more than €12 billion ($12.4 billion).
The total excludes capital raised for co-investments, a news release said.
The fund invests in the energy transition across technologies including wind, solar and battery storage, in Organization for Economic Cooperation and Development countries in Europe, North America and Asia-Pacific. The fund has already made six final investment decisions, committing 60% of assets.
“Our team of energy industrialists are experts in value-enhancing greenfield investments in large-scale energy infrastructure projects that deliver attractive risk-adjusted returns for our investors,” said Mads Skovgaard-Andersen, head of flagship funds and partner, in the release. “We believe that CI V is a highly relevant and important component in our investors’ portfolios as it offers portfolio stabilization and diversification with downside protection from contracted cash flows and exposure to inflation. The value creation in our funds is based on early entry at low cost and derisking and optimizing the asset across the different project stages, which are generally less correlated to macroeconomic factors and economic cycles.”
The $533.4 billion California Public Employees’ Retirement System, Sacramento, disclosed a $324 million to the fund in materials for its upcoming March 17 investment committee meeting. The world’s largest sovereign wealth fund, run by Norges Bank Investment Management, in August committed to invest €900 million to the fund, Bloomberg reported.
Copenhagen Infrastructure Partners manages 13 funds and has raised a total about €32 billion for investments in energy and associated infrastructure to date.
