Investors from North America, Europe, Asia and the Middle East have once again backed Capital Dynamics to raise $1.2bn (€1.04bn) for its latest clean energy and infrastructure fund at final close.

Clean Energy and Infrastructure VII JV (CEI VII) received commitments from the €480bn Dutch asset manager APG, the $225bn California State Teachers’ Retirement System and a subsidiary of the Abu Dhabi Investment Authority.

Capital Dynamics said the three investors had also invested in the previous CEI V vehicle, which held its final close earlier this year at $1.2bn.

John Breckenridge, the head of the Capital Dynamics’ clean energy infrastructure business, said: “With the close of CEI VII, we will continue to execute our proven investment strategy of investing in high-quality renewable energy generation projects.

“We greatly appreciate the continued confidence of our major investors and are committed to helping them achieve both their investment and ESG goals. Our highly focused and efficient approach to the sector has led to great success for CEI V and we look forward to continuing to execute our strategy with CEI VII.”

CEI VII will invest in US-based utility-scale renewable generation assets.