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CIP fund reaches €1.5 billion on first close

By: Tom Russell 16/06/2020 CIP

General Windfarms

Copenhagen Infrastructure Partners (CIP) has reachedEUR 1.5 billion first close on Copenhagen Infrastructure IV (CI IV), which is set to become the largest fund globally within renewable energy infrastructure investments with a target fund size of EUR 5.5 billion. The fund is expected to achieve capital commitments of EUR 5-7 billion and invest EUR 10-14 billion in greenfield renewable energy infrastructure across North America, Western Europe, developed Asia and Australia.

The new fund reached a first close of EUR 1.5 billion on June 15, 2020 with capital commitments from a group of institutional investors, including the two Danish pension funds PensionDanmark and AP Pension, KLP from Norway as well as pension and life companies and large family offices. Several other prominent institutional investors are in the process of committing to CI IV, including investors from among others the Nordics, Continental Europe, UK, Israel, North America, Asia and Australia.

The investment strategy is a continuation of the predecessor funds Copenhagen Infrastructure I, II and III, and is tailored to institutional investors with a long-term investment horizon. The fund will focus on greenfield investments within core energy infrastructure. It has a global reach and will diversify investments across technologies such as contracted offshore wind, onshore wind, solar PV, transmission, storage, waste-to-energy and biomass assets in low risk OECD countries in Western Europe, North America and developed Asia Pacific.

Following first close of CI IV, CIP has seven funds under management with total commitments of around EUR 9.5 billion. The new fund CI IV has a target fund size of EUR 5.5bn and final close is expected during the next 9 months.
Bruun & Hjejle, Clifford Chance, and Fried Frank are acting as legal counsel. Selinus, Eaton Partners, and CFJC are acting as placement agents.

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CIP fund reaches €1.5 billion on first close

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