Investment manager Quinbrook Infrastructure Partners has raised over $1bn for its low carbon power fund, which closed today.
Investor commitments totalling $1.6bn have been achieved mainly from pension funds and insurance institutions in the US, UK and Australia.
Quinbrook has already made seven portfolio investments including onshore wind, solar and battery storage, as well as gas peaking, it said.
Investments include Scout Energy, which is building the 300MW Ranchero wind farm in Texas, managing the operational 200MW Persimmon Creek project in Oklahoma, and has a pipeline of 2GW in the US.
The fund has also invested in the 690MW Gemini solar plant in Nevada and in Glidepath Power Solutions which operates the 244MW Huntsman wind portfolio and has a 1GW pipeline of solar and battery storage.
Quinbrook co-founder and managing partner David Scaysbrook said: “We are very grateful to both our longstanding investors and our new institutional clients who have enabled us to achieve our largest fund raising to date.
“We especially value their commitment to Quinbrook’s investment strategy, which seeks to deliver both ongoing cash yield and absolute gains from the creation of new low carbon energy infrastructure assets and the remediation of impaired or undervalued energy assets and businesses.
“We believe our team is exceptional and includes professionals who have been investing within energy infrastructure now for over 20 years.
“That collective expertise, commitment to ESG principles and industrial approach to energy investing has differentiated our strategy with investors.”