Infrastructure fund manager Quinbrook has raised £587m (€687m) for its second UK-focused renewables impact fund, surpassing its initial £500m target.
The Quinbrook Renewables Impact Fund II (QRIF II), which was marketed exclusively to UK and Irish institutional investors, attracted a strong re-up rate from its £620m predecessor fund that closed in October 2023, according to Quinbrook.
Quinbrook said QRIF II’s portfolio holds long-term, inflation-linked contracts focused on renewable energy, storage and grid support infrastructure.
QRIF II portfolio’s current assets include: the 373MW DC Mallard Pass Solar Project in the East Midlands; the 963MVA.s Wexford Synchronous Condenser Project in Ireland; Aegis Energy, a UK clean energy fleet refuelling network; and Project Norton, a 65MW solar and 41MW battery storage project in Stockton-on-Tees.
Keith Gains, managing director and UK regional lead at Quinbrook, said: “As the UK and Ireland continue to make meaningful progress towards their energy-transition goals, investor demand for infrastructure assets that deliver both resilience and decarbonisation continues to grow.
“With QRIF II, we have expanded our strategy into areas where we see strong long-term demand and supportive policy frameworks, including grid stability infrastructure in Ireland and the decarbonisation of commercial transport in the UK. These investments are underpinned by long-term contracts and essential-service characteristics, which we believe are critical to delivering stable investor returns while supporting economy-wide decarbonisation.”
Mark Burrows, managing director and head of relationships and fundraising for Europe, said: “Both the level of investor demand for QRIF II and the pace at which we reached our fundraising target underscore the strong and growing investor demand for high-quality, contracted clean-energy infrastructure assets and businesses in the UK and Ireland.
“Investors are increasingly focused on strategies that combine downside protection with meaningful exposure to the energy transition, and we believe Quinbrook’s proven ability to originate, develop and deliver these investments continues to resonate strongly in the market.”
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