Copenhagen Infrastructure Partners (CIP) has closed its second Growth Markets Fund, GMF II. . It targets large-scale energy infrastructure projects in 15 selected middle-income markets across Eastern Europe, Asia and Latin America.
The fund raised about USD 3 billion in commitments, including associated investment vehicles, nearly three times the size of its first fund. GMF II is nearly three times the size of the first fund and has already committed USD 1.6 billion across nine investments. These include:
- Commissioning a standalone battery project in Chile, which was completed below budget.
- Starting construction of large-scale solar and battery storage projects in Mexico after securing capacity under the country's recent binding planning framework.
- Reaching financial close on the Pestera II onshore wind project in Romania, one of the country's larger renewable energy investments.
CIP expects the fund to be fully committed within one to two years, based on its current portfolio and planned investments.
