Copenhagen Infrastructure Partners hires partner

The renewables-focused firm, established by PensionDanmark a year ago, has bolstered its senior team with the former head of DONG Energy’s offshore wind construction projects.

Copenhagen Infrastructure Partners, the Danish fund manager, has appointed Christina Grumstrup Sørensen as partner.

Sørensen will join from Dong Energy Wind Power, where she was spearheading the company’s offshore wind construction projects, having been a senior member of the division since 2008. She was previously vice-president and head of analysis and strategy in the company’s thermal power business unit.

Her background involves a Masters in mechanical engineering and seven years as a consultant at McKinsey. She is also a member of the council at risk management company Det Norske Veritas and board member of Nordic non-profit investor Nordeafonden.

Sørensen will officially take up her role on 1 March 2014. Until her accession as partner, she will be working with CIP as a consultant on various energy-related infrastructure projects.

She joins CIP just a year after its foundation. The firm was established in October 2012 by PensionDanmark, a €18 billion pension fund, which committed €800 million to the fund to be invested in European and North American infrastructure assets over the next four years.

It is managed by four partners, all ex-employees of Dong Energy: Jakob Baruel Poulsen, Rune Bro Roin, Torsten Lodberg Smed and Christian Skakkebaek. PensionDanmark itself has an existing relationship with Dong, having worked on several wind deals with the company in the past.

The LP said last year that CIP would be looking to raise a second fund in three or four years’ time and that this vehicle would be open to third-party investors.

Established in 1993, PensionDanmark manages labour market pensions on behalf of 621,000 public and private sector members. The fund has been steadily increasing its allocation to infrastructure in recent years – which in December 2012 stood at 3.1 percent – through both direct deals and indirect investments.

Committing to a captive fund would allow it to bring down fees and associated costs, PensionDanmark said when it seeded CIP. The pension is aiming to grow total assets to more than €24 billion by 2017.