CIP reaches final close for its €7bn flagship fund

The Copenhagen-based fund manager hits hard-cap on its largest greenfield renewables energy fund.

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  • Fund name: Copenhagen Infrastructure Partners IV
  • Amount raised: €7 billion (hard-cap)
  • Target size: €5.5 billion
  • Stage of fundraising: Final close
  • Final close date: 16 April 2021
  • Time on the road: 12 months
  • Predecessor fund: Copenhagen Infrastructure Partners III (€3.5 billion)
  • Legal advisors: Bruun & Hjejle and Plesner
  • Placement agents: Selinus Capital Advisors, Compagnie Financière Jacques Coeur, Allen Partners and Eaton Partners.

Copenhagen Infrastructure Partners has reached a final close on its flagship greenfield renewables energy fund at its hard-cap of €7 billion, after spending just 12 months on the road. The fund manager had initially targeted €5.5 billion but due to oversubscription that target size was reached in December 2020.

With €7 billion in capital commitments, CIP IV is the largest dedicated greenfield renewable energy fund globally. The fund’s investor base comprises of approximately 100 institutional investors from the Nordics, the rest of Europe, North America, Asia and Australia. According to the fund manager, there is a 50/50 split between existing investors with CIP funds and new investors.

CIP has seven funds under management (including CIP IV) with total commitments of approximately €15 billion. CIP expects to launch its eighth fund during Q2 2021, targeting investment in infrastructure assets to decarbonise the fossil-fuel-based fuels and feedstock market. It will also look to facilitate the decarbonisation of the hard-to-abate transport, steel and chemical processing industries.

Bruun & Hjejle and Plesner acted as the legal counsel for the CIP IV fund with Selinus Capital Advisors, Compagnie Financiere Jacques Coeur (CFJC), Allen Partners and Eaton Partners as placement agents.