Dutch asset manager MN has made a €150m seed investment in AIP Fund V on behalf of PME, the pension fund for the Dutch technology industry.
AIP is a Danish infrastructure investment manager founded by PKA, now majority-owned by Storebrand, to manage long-term institutional capital at scale, with a focus on essential infrastructure and the energy transition
AIP V raised a total of €2bn at its first close, representing around two-thirds of the €3bn targeted final close.
The manager stated that other investors include Retraites Populaire, Caisse de pensions de l’Etat de Vaud (CPEV) and Caisse Intercommunale de Pensions (CIV).
Kasper Hansen, CEO and managing partner of AIP, said: “We are grateful for the strong support shown in this first close. It reflects a shared commitment to investing in resilient, long-term infrastructure that contributes meaningfully to the energy transition.
“With three seed investments in place and a healthy pipeline, the first close commitments provide a solid basis for disciplined and measured deployment. We appreciate the confidence our investors have shown as we progress to the next phase of the fundraise.”
Amanda Tonsgaard, head of investor relations and partner at AIP, said: “The strong first close, combined with the quality of our early investments and our ongoing discussions with investors, provides encouraging momentum as we progress towards our target for December 2026.
“We are encouraged by the early interest in the fund and humbled by the support we have received. We will continue to engage with investors openly as we work towards our next closing. Our model enables us to offer co-investments alongside the fund, which we see as an effective way to build and deepen long-term partnerships.
“We were founded by institutional investors to manage capital at scale. Transparency and trust have been fundamental to our model since inception and continue to shape how we collaborate with our partners and deploy capital responsibly.”
AIP Management’s recent transactions include its April 2025 investment in Silicon Ranch, one of the largest independent power producers (IPP) in the US and a community-focused energy infrastructure company. AIP said the transaction reflects its conviction in the long-term fundamentals of the US clean energy sector and marks its second investment in a renewables platform following a previous transaction in Europe.
Silicon Ranch’s portfolio includes 3.6GW of operating capacity and another 3.7GW in construction or under contract across the US. The company aims to reach more than 10GW of operating capacity by the end of 2030.
Hansen said at the time of the deal: “This investment builds on our strategy of partnering with high-quality infrastructure platforms. Silicon Ranch is a leading IPP with profound local expertise, an embedded presence in the communities it serves, and a fully integrated approach to delivering clean power at scale.
“Our investment supports its continued growth and reflects our confidence in businesses with strong fundamentals and the ability to drive the energy transition forward.”
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