Copenhagen Infrastructure Partners (CIP) has raised a further DKK5.2bn (€700m) from Nordic and UK institutional investors for its third fund.
The Danish fund manager, established in 2012, said it has now attracted close to €1.9bn of commitments in a third close. It hopes to reach €3bn by the end of the year.
Copenhagen Infrastructure III secured Danish labour-market fund PensionDanmark, Norway’s KLP, and Danish doctors’ pension fund Lægernes Pension among its anchor investors in its initial DKK8.8bn of fundraising.
The fund is expected to invest mainly in large-scale offshore and onshore wind energy, solar energy and biomass/waste-to-energy projects, as well as transmission and distribution primarily in Northwestern Europe and North America.
CIP said commitments to the new fund received so far had primarily been from Nordic and UK-based investors, but that it expected subscriptions to come from a broader international group of large investors in the next rounds of fundraising.
It said the fund had a strong pipeline of investment opportunities as well as ownership or exclusivity rights to nine energy infrastructure projects, comprising about €1.5bn of potential investments.