One of the five founders of renewables fund manager Copenhagen Infrastructure Partners is to leave at the end of this month, Infrastructure Investor has learnt.
Rune Bro Róin, who eight years ago left his position as senior vice-president at Ørsted with four colleagues to set up CIP, will be ending his tenure at the end of next week.
CIP confirmed his departure but did not comment on the reason for the exit, although Infrastructure Investor understands there had been disputes with senior members of the team and that his exit this month brings an end to what has been a phased departure.
Christian Skakkebæk, senior partner at CIP, told Infrastructure Investor that Róin has not worked on the management of “new funds and new fund activity” since the end of 2018 in order to “focus on certain key project-related activities, primarily a large divestment project”, which he did not specify.
“As these tasks have been completed successfully, Rune now will step down as partner in CIP, with effect of end of May 2020, as he will focus on activities outside CIP,” Skakkebæk added. “Rune has been key in establishing and growing CIP and will continue to follow our company and be a ‘friend of the house’ going forward.”
The move comes with the Danish group believed to be at the early stages of raising its fourth flagship fund, with sources indicating a target size of about €5.5 billion. Copenhagen Infrastructure III reached a €3.5 billion close in April 2018, while the firm also closed its first New Markets fund on $1 billion in December last year.
Last month, Infrastructure Investor reported that CIP hired Thomas Dalsgaard, former chief executive of Ørsted’s bioenergy business, to lead a new investment unit at CIP that will focus on bioenergy, district heating, water and wastewater. Dalsgaard will assume his new role in September.