Eight Danish institutional investors committed a total of 8 billion Danish kroner ($1.4 billion) to Copenhagen Infrastructure II, an energy infrastructure fund managed by Copenhagen Infrastructure Partners.
The fund, whose launch Copenhagen Infrastructure Partners announced Thursday, is open for commitments until the end of the first quarter of 2015 and seeks to close at between 10 billion and 12 billion Danish kroner. The fund targets investments in Europe and North America within the renewable energy, utilities and water sectors.
The 149 billion kroner PensionDanmark, Copenhagen, committed the largest amount of the eight institutional investors, with a commitment of 3.5 billion kroner, the labor market pension fund said in a news release.
“Our infrastructure investments have really taken off in recent years, both via our internal investment team and via our very satisfactory cooperation with CIP. So we are pleased to make a large investment commitment to the new fund today,” said Torben Moger Pedersen, CEO of PensionDanmark, in the news release.
Four of the pension funds also issued a joint news release and provided individual commitment information:
- Laegernes Pensionskasse, Frederiksberg, the 100 billion kroner pension fund for doctors, which committed 1.25 billion kroner;
- Paedagogernes Pensionskasse, Hellerup, the 50 billion kroner pension fund for Danish educators, which committed 1 billion kroner;
- JOP, Frederiksberg, the 61 billion kroner pension fund for lawyers and economists, which committed 545 million kroner; and
- DIP, Frederiksberg, the 34 billion kroner pension fund for civil and academy engineers, which committed 340 million kroner.
CIP also announced the 417 billion kroner PFA Pension, Copenhagen, made a commitment, although the exact amount could not be learned by press time, along with two other institutional investors, Nordea and Nykredit.
Christina Grumstrup Sorensen and Christian T. Skakkebaek, partners at Copenhagen Infrastructure Partners, did not return a phone call by press time; Michael Carlsen, PensionDanmark spokesman, could not be reached by press time.