Danish CIP's 3rd energy fund secures EUR 2.8bn in commitments

The third fund of Copenhagen Infrastructure Partners P/S (CIP) has achieved a sixth close on Wednesday, bringing the total commitments to EUR 2.8 billion (USD 3.33bn).

“Based on our current dialogues with other prominent institutions, which have also indicated their interest to invest, we expect the fund to exceed the EUR 3 billion target size by final close in March”, said Jakob Baruel Poulsen, managing partner at CIP.

The EUR 2.8 billion in funds were secured in about nine months, CIP said on Wednesday. The Copenhagen Infrastructure III (CI III) fund, with a hard cap of EUR 3.5 billion, will be open for investor subscription until March 2018. The goal of the fund is to support onshore and offshore wind projects, as well as solar, biomass, waste-to-power and transmission and distribution schemes.

The sixth close of the CI III fund attracted commitments from institutional investors from Australia, Israel, the Netherlands and Norway. Previous investors came mainly from the Nordic region and the UK.

CI III's investment pipeline includes ownership or exclusivity rights to 17 projects currently being developed towards financial close. The portfolio represents a potential investment volume of some EUR 3 billion in North America, Northwestern Europe and Asia Pacific.

(EUR 1.0 = USD 1.190)

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