Canadian institutional investor La Caisse (formerly CDPQ), Texas Teacher Retirement System (TRS) and funds managed by GCM Grosvenor are investing in technology-related real assets via GreenPoint Partners.
GreenPoint Real Estate Private Equity Fund I has raised more than $1bn (€847m), according to the fund manager.
The capital raised includes direct commitments to the fund and co-investment, according to sources. Texas TRS provided a $75m commitment.
The fund targets real assets that span sectors that include transport and logistics, energy and environment, digital infrastructure, and living.
It will invest primarily in North America, Europe and Australia with a focus on “emerging sectors that are undergoing technology-driven transformation, such as digitisation, electrification and automation”.
Chris Green, founder and CEO of GreenPoint, said: “The significant support we have received from institutional investors validates our thesis. We’ve built GreenPoint to do more than deploy capital – we build vertically-integrated platforms that are positioned to define the next era of real assets. We believe that building the infrastructure of tomorrow in the digital era is a generational opportunity that will provide compounding value to our stakeholders.”
The fund has already invested in Lysara, through which it is building a £1bn (€1.15bn) pan-European platform focused on electric-vehicle charging, urban densification and fleet infrastructure, and Outpost, which GreenPoint is developing into a $1bn platform focused on modernising US freight through a national network of automated truck terminals.
Peter Braffman, managing director at alternative investments firm GCM Grosvenor, said: “GCM Grosvenor has been a long-term backer of nascent real estate platforms and GreenPoint’s integrated model represents an exciting evolution of the industry. Outpost is another great example of their ability to combine operational expertise, innovation in technology, and long-term capital which is a point of differentiation in the market and within our broader portfolio.”
