CIP Reaches First Close On 5th Flagship Fund At EUR 5.6 Bln

KUALA LUMPUR, July 10 (Bernama) -- Copenhagen Infrastructure Partners (CIP) has reached first close on its fifth flagship fund Copenhagen Infrastructure V (CI V) at EUR 5.6 billion in capital commitments received. (EUR 1 = RM5.10)

According to a statement, a large group of leading institutional investors across continental Europe, the Nordics, the United Kingdom, North America, and the Asia Pacific region have participated in the first close of CI V.

Backed by the strong appetite of additional investors already in process, the fund is on track to reach its target fund size of EUR 12 billion and is set to become the largest fund globally dedicated to greenfield renewable energy infrastructure investments.

“Reaching nearly EUR 6 billion at first close is a testament to the importance of the fund, and the confidence placed in our industrial approach to energy infrastructure investments.

“With its greenfield focus and large and diversified portfolio, CI V has the potential to significantly contribute to, and accelerate the energy transition on a global scale, while generating strong returns for our investors,” said CIP Managing Partner, Jakob Baruël Poulsen.

The investment strategy is a continuation of the predecessor flagship funds CI I, CI II, CI III, and CI IV, applying the same well-tested industrial value-creation approach, whereby projects are entered early and significantly de-risked and optimised, prior to the start of construction to capture the attractive greenfield premium.

Focuses on greenfield investments within large-scale renewable energy infrastructure, the fund has a global reach and intends to diversify investments across technologies such as contracted offshore wind, energy storage, onshore wind and solar in low-risk Organisation for Economic Co-operation and Development (OECD) countries in North America, Western Europe and Asia Pacific.

CI V is off to a strong start with the largest project pipeline of any CIP fund to date. At first close, the fund has ownership of more than 40 renewable energy infrastructure projects with a total potential CI V commitment of approximately EUR 20 billion, corresponding to more than 150 per cent of the target fund size.

-- BERNAMA