Copenhagen Infrastructure Partners (CIP) has reached final close for a renewables infrastructure fund with a commitments of €1bn, plus an additional €200m in co-investments.
CI Green Credit Fund I (CI GCF I), along with CIP’s new bionenergy fund, CI Advanced Bioenergy Fund I (CI ABF I), have secured commitments from investors across the Nordics, Europe and Asia Pacific.
The funds’ investor bases are comprised of institutional investors, primarily pension funds, life insurance companies, sovereign wealth funds, family offices, asset managers, and corporate investors.
CI GCF I provides debt financing with subordinated risk characteristics for renewable energy projects globally, contributing to decarbonising the power market and focuses on providing private project finance debt with subordinated risk characteristics supporting renewable energy projects in Europe, North America, and selective jurisdictions in the Asia Pacific region.
The project focus is on green- and brownfield projects in renewable energy infrastructure.
The fund’s main focus will be on direct investments, but it also has the ability to participate in risk-sharing transactions.
“Reaching this milestone together with a strong group of global LPs allows us to continue identifying new investment opportunities, and work with strong developers on executing the renewable energy build-out.
“We believe private credit in the renewable energy space is a natural addition to the strong CIP fund portfolio, and it offers our LPs a new and attractive way to deploy capital into the energy transition while leveraging CIP’s strong skills and heritage,” said Jakob Groot, partner and co-head of CIP’s credit platform with partner Nicholas Blach-Petersen.