Fundraising

Copenhagen Infra III reaches sixth close at €2.8bn

The firm expects the renewables-focused fund to pass its €3bn target by its March final close. It already has 29 investors from Australia, Israel, the Netherlands and Norway.

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Copenhagen Infrastructure Partners has raised €2.8 billion for its latest fund and is fast approaching its €3 billion target.

Copenhagen Infrastructure III, held its sixth close last week. The fund has a hard cap of €3.5 billion.

“We expect the fund to exceed the €3 billion target size by final close in March,” said Jakob Baruël Poulsen, CIP managing partner.

The firm’s previous fund, Copenhagen Infrastructure II, closed on €2 billion in July 2015 with the backing of 19 primarily Nordic and UK-based limited partners. CI III already has 29 investors, with the firm attracting institutional investors from Australia, Israel, the Netherlands and Norway.

Launched in 2012 by four former Dong Energy employees, CIP focuses on investments in energy infrastructure ­– primarily in the renewables space in North America, North-western Europe and Asia-Pacific. The Danish fund manager was established by PensionDanmark, one of the country’s largest labour pensions, with an investment of approximately €1 billion. PensionDanmark was the sole investor in Copenhagen Infrastructure I as well as CI Artemis, a €392 million fund established in 2014 to invest in the DolWin3 grid connection in the North Sea.

Investors in CI III include PensionDanmark, Lægernes Pension, PBU, JØP, DIP, Nordea Fonden, PFA, AP Pension, SEB Pension DK, SEB Pension SE, Lærernes Pension, Oslo Pensjonsforsikring, KLP, Widex, LB Forsikring, the European Investment Bank, Haringey London, Lív, ISP, K Alternativ Infrastruktur I, Lind Invest, Zhinfra, DNB Liv, Pensjonskassen for Helseforetakene, Migdal and Catholic Super, an Australian superannuation fund.