PensionDanmark, Copenhagen, committed €200 million ($239 million) to CI Energy Transition Fund I managed by Copenhagen Infrastructure Partners, a spokeswoman said.
The 730.1 billion Danish kroner ($117.1 billion) PFA Pension, Copenhagen, also committed to the fund. The size of PFA's allocation wasn't disclosed, a spokesman said.
The fund, which held its first close Monday at €800 million, focuses on greenfield projects in Western Europe, North America, Australia and developed markets in Asia, investing in energy infrastructure aimed at renewable electricity production, known as power-to-X projects. CIP is targeting €2.3 billion in assets for the fund.
"With PensionDanmark's investment in CIP's Energy Transition Fund we directly participate in the next phase of the energy transition and contribute with private capital facilitating industrial corporates and countries reaching their net-zero commitments," Torben Moger Pedersen, CEO of the €36 billion PensionDanmark, said in a CIP news release.
Kasper Ahrndt Lorenzen, Group CIO at PFA Pension, added in the release: "Our investment in CIP's Energy Transition Fund is a natural next step in our ongoing efforts to decarbonize our portfolio and participate in the green transition of our society."
CIP manages eight funds and has about €16 billion in assets under management.