Copenhagen Infrastructure Partners (CIP) has initiated the fundraising process for its new fund, Copenhagen Infrastructure III, which will now be open for investor subscription.
Copenhagen Infrastructure III has received commitment of DKK8.8 billion (US$1.27 billion) primarily from the Anchor Investor group, marking a strong start for CIP’s fundraising process.
The fundraising follows the recent successful investment of the US$2.14 billion commitment to Copenhagen Infrastructure II, which has been invested in 10 energy infrastructure projects. Copenhagen Infrastructure II had its final closing in June 2015.
The primary geographical scope of the fund is Northern and Western Europe as well as North America. The fund is a 20-year “build-and-hold” fund, which means that the fund focus on greenfield investments and as a base case expects to hold the investments throughout the entire commercial lifetime of the assets.
Copenhagen Infrastructure Partners has so far three funds under management with a total commitment of US$3.7 billion.
Christian Skakkebæk, Senior Partner in Copenhagen Infrastructure Partners, said:
“It is an important proof of investor confidence in CIP’s approach to energy infrastructure investments, that these leading institutional investors have decided to back our new fund as Anchor Investors. We are very excited for the commitments from the Anchor Investor group, and look forward to continue the fundraising process with a larger group of prominent investors, which have indicated their interest, including our existing investors in Copenhagen Infrastructure II. The fund is seeking to provide attractive long term cash flows to investors with relatively low risk.”
“Copenhagen Infrastructure III will have the same focus as CIP’s previous funds, being investments in energy infrastructure with stable returns, including onshore and offshore wind, solar PV, biomass fired power plants, transmission grid systems, etc. The energy infrastructure market currently shows an attractive growth due to the strong commercial breakthrough recently in several renewable energy technologies.”