Quinbrook Infrastructure Partners has received $3bn (€2.8m) in capital commitments for its latest energy-transition fund.
The global investment manager said it has secured the capital commitments for its Net Zero Power Fund (NZPF) and related co-investment vehicles.
Quinbrook said NZPF attracted investment from a diverse group of institutional investors, including pension funds, sovereign wealth funds, insurance companies, funds of funds, endowments and family offices based in the US, Canada, Australia, the UK, Sweden, Norway, Finland and the EU.
Last year, IPE Real Asset reported that Australian industry superannuation fund Rest was investing in NZPF and will also co-invest in US and Australian projects alongside Quinbrook to give it broad exposure to a range of assets, such as solar and battery projects and green data-storage centres.
Norway’s Kommunal Landspensjonskasse also invested NOK2bn (€170m) in the fund.
NZPF focuses on a range of renewable energy and infrastructure projects, including large-scale solar and storage, sustainable data centre solutions, renewable fuels production, grid support services, and strategic battery storage.
Quinbrook said the fund has already invested or committed more than half of its total capital to projects in its existing portfolio and anticipates full deployment in the next year.
NZPF’s current investments include US solar firm Primergy Solar, Rowan Digital Infrastructure, The Supernode Storage Project, Purpose Energy and Project Severn.
David Scaysbrook, Quinbrook’s co-founder and managing partner, said: “We seek higher value-add returns from infrastructure opportunities offered by the energy transition that enable us to secure long-term contracted revenues from top-tier customers.
“We have demonstrated a consistent ability to move early into highly prospective sectors, whether it be mega-scale solar-plus-storage projects, sustainable-infrastructure solutions for hyperscale data centres, AI optimisation of battery storage or synchronous condensers for critical grid support where in each case we are staying ‘true to label’ as a specialist infrastructure investor and manager.”
Rory Quinlan, Quinbrook’s co-founder and managing partner, said: “NZPF follows our successful Low Carbon Power Fund and Renewables Impact Fund, which enabled us to develop, build and operate some of the largest and award-winning renewable energy, battery storage and grid support projects in the US, UK and Australia.
“We are grateful for the support we’ve received from our existing investors and welcome many new investors to Quinbrook from all over the world.”
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