Copenhagen Infrastructure Partners (CIP) has raised €7bn for its global renewable-energy infrastructure fund, one year after the start of fundraising.
The manager said the Copenhagen Infrastructure IV (CI IV) fund reached its hard cap target with commitments from investors across the Nordics, Europe, North America, Asia, and Australia with a 50/50 split between existing investors in CIP funds and new investors.
As previously reported, the New York State Common Retirement Fund made a €250m commitment to the core-plus fund. CIP’s capital received from Nordic investors includes a €500m investment from Denmark’s PensionDanmark, a €335m commitment from AP Pension and an undisclosed amount from Norwegian municipal pension fund KLP.
The fundraising for CI IV reached €1.5bn in June last year and reached the target fund size of €5.5bn in December.
CI IV, the largest dedicated greenfield renewable energy fund globally, expects to invest in greenfield renewable energy infrastructure projects worth €14bn.
The manager said close to a third of the fund has already been committed to investments and the fund is expected to become fully committed within 2-3 years.
Jakob Baruël Poulsen, managing partner at Copenhagen Infrastructure Partners, said: “We are very pleased to welcome a prominent group of existing and new institutional investors to CI IV, and look forward to continuing to create value for our investors, project partners, and communities through the fund’s investments in greenfield renewable energy projects.
“We are delighted that investors share our confidence in and appetite for greenfield renewables and have decided to invest alongside CIP in some of the largest clean energy projects across the globe within offshore wind, onshore wind, solar PV, transmission, and storage.”
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