Copenhagen Infrastructure Partners (CIP) held final close on its global greenfield renewables energy fund, Copenhagen Infrastructure IV (CI IV), one year after start of fundraising.
The fund was oversubscribed and closed at the hard cap of EUR 7 billion having reached the target fund size of EUR 5.5 billion already back in December 2020. CI IV achieved commitments from investors across the Nordics, Europe, North America, Asia, and Australia with a 50/50 split between existing investors in CIP funds and new investors. The fund’s investor base comprises approximately 100 institutional investors, primarily pension funds, life insurance companies, and family offices.
CI IV is expected to invest in greenfield renewable energy infrastructure projects with total CAPEX in excess of EUR 14 billion. CI IV already made final investment decisions on three investments during the first six months of the fund’s investment period and owns more than 15 renewable energy projects with a potential investment amount exceeding the fund size. Approximately 1/3 of the fund has already been committed to investments and the fund is expected to become fully committed within 2-3 years. Following final close on CI IV, CIP has seven funds under management with total commitments of approximately EUR 15 billion. CIP expects to establish its eighth fund (CI Energy Transition Fund I) during Q2 2021.
