Climate Fund Managers holds first close for CI2

The manager sees strong support from its investors as it raises its second climate-focused vehicle.

Fund name: Climate Investor Two (CI2)
Amount raised: $675 million
Target size: $1 billion
Stage of fundraising: First close
Predecessor fund: Climate Investor One (CI1) ($850 million)

Climate Fund Managers has announced the first close of its second climate-focused finance initiative following the successful capital raising of the predecessor fund, Climate Investor One (CI1).

With a $1 billion target size, the CI2 fund aims for a mixture of public and private sector financing to open capital for infrastructure projects in emerging markets. Underpinning strong renewable sector expertise from the predecessor fund, CI2 will add focus to water, sanitation and oceanic infrastructure in targeting projects that assist vulnerable societies in mitigating and adapting to the impacts of global climate change.

Besides the Dutch Fund for Climate and Development, there has also been strong support from AEGON N.V., IMAS Foundation, KLP Insurance Pension Fund, Sanlam Investments and Nordic Development Fund.