CIP Fund Nears EUR 3 Billion Mark

Copenhagen Infrastructure Partners’ (CIP) fund Copenhagen Infrastructure III (CI III) had its sixth close on 27 December with total commitments reaching approximately EUR 2.8 billion after nine months of fundraising.

CIP targets a fund size of EUR 3 billion and CI III will be open for investor subscription until March 2018, the company said, adding that the fund has a EUR 3.5 billion hard cap.

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

“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,” said Jakob Baruël Poulsen, Managing Partner at CIP.

According to the company, the investment strategy of CI III will be a continuation of the 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.

The CI III pipeline includes ownership or exclusivity rights to 17 projects currently being developed towards financial close. The portfolio amounts to around EUR 3 billion in potential investment volume and provides diversification across primarily offshore wind, onshore wind, solar pv and biomass in North America, Northwestern Europe and Asia Pacific, CIP said.

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