CIP's 3rd fund hits EUR-3.5bn hard cap at final close
Copenhagen Infrastructure Partners (CIP) said today it has held a final close for its third fund, focused on greenfield investments, at the EUR-3.5-billion (USD 2.84bn) hard cap.
Copenhagen Infrastructure III (CI III) has received commitments from 42 institutional blue chip investors, including pension and insurance companies, family offices, as well as asset and fund managers. With these commitments, the fund exceeded its EUR-3-billion target size, CIP said.
The pipeline of this third fund includes ownership or exclusivity rights to more than 15 projects across offshore and onshore wind, solar photovoltaic (PV), biomass and waste-to-energy, geothermal, and reserve capacity in North America, Northwestern Europe and Asia Pacific. These schemes are currently being developed towards financial close, CIP noted.
“CI III broadens CIP’s investor base to include a diverse range of investors in Australia, Asia, continental Europe, UK, and Israel, which complements the primarily Nordic investors in the predecessor funds,” said Jakob Baruel Poulsen, managing partner at CIP.