Exclusive: Q4 first close for Copenhagen Infra Partners II

Originally established by sole LP PensionDanmark, Copenhagen Infrastructure Partners is getting Danish LPs onboard for its second €1.6bn fund.

Danish fund manager Copenhagen Infrastructure Partners (CIP) expects to reach a first close on its second fund before the year is out, Torben Moger Pedersen, chief executive of PensionDanmark, the sole limited partner (LP) in CIP’s first fund, told Clean Energy Investor*, Infrastructure Investor’s sister publication.

Fund II is targeting a first close of between DKK8 billion (€1.1 billion) and DKK10 billion and a final close on DKK12 billion. In comparison, CIP’s first fund started with DKK6 billion of seed capital from PensionDanmark and now manages DKK10 billion on behalf of the Danish pension. Pedersen said Fund I should be fully invested later this year.

Unlike CIP’s first fund, the fund manager’s second vehicle will be open to other Danish LPs. Like Fund I, CIP’s second effort will focus on renewable energy and regulated infrastructure assets across Europe and North America.

CIP was established in October 2012 by PensionDanmark, a €20 billion pension fund. 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.

Established in 1993, PensionDanmark manages labour market pensions on behalf of 640,000 public and private sector members.

*Clean Energy Investor is PEI’s new dedicated source of insight and intelligence for private investment across the clean energy space. Stay tuned for launch in early-to-mid-October. Want to learn more? Email the editor, Bruno Alves, at bruno.a@peimedia.com or tweet us at @CEI_PEI.