After nine months of fundraising, Copenhagen Infrastructure Partners’ (CIP) new fund, Copenhagen Infrastructure III (CI III), has had its sixth close on December 27, 2017 with total commitments reaching EUR2.8 billion (US$3.32 billion). CIP targets a fund size of EUR3 billion (US$3.56 billion) and CI III will be open for investor subscription until March 2018. The fund has a EUR3.5 billion (US$4.15 billion) hard cap.

The sixth close LP commitments are committed by institutional investors from Australia, Israel, the Netherlands and Norway which complement and expand the current primarily Nordic and UK-based investor base.

The investment strategy of CI III will be a continuation of the successful predecessor fund, CI II, which is now fully committed and on track to provide investors with long term stable cash flows and above target investment returns. CI III has a strong investment pipeline which includes ownership or exclusivity rights to 17 projects currently being developed towards financial close. The portfolio amounts to around EUR3 billion (US$3.56 billion) in potential investment volume and provides diversification across primarily offshore wind, onshore wind, solar photovoltaic and biomass in North America, Northwestern Europe and Asia Pacific.

Copenhagen Infrastructure Partners (CIP) is a fund management company focused on energy infrastructure. CIP was founded in 2012 by senior executives from the energy industry in cooperation with PensionDanmark. CIP is owned and managed by the five senior partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian T. Skakkebæk and Christina Grumstrup Sørensen.

Jakob Baruël Poulsen, Managing Partner in Copenhagen Infrastructure Partners, said:

“We are very pleased to welcome a very prominent international group of new investors into the fund. Based on our current dialogues with other prominent institutions, which have also indicated their interest to invest, we expect the fund to exceed the EUR 3bn target size by final close in March. The development of the investment pipeline for CI III has been very positive since first close, reflecting CIP’s very strong project sourcing base and the team’s ability to execute large scale and complex energy infrastructure projects”