Fundraising

The US-based firm ended 2020 with more than $9bn committed to its latest flagship fund and nearly $1bn committed to a new emerging markets vehicle.

The Danish fund manager has agreed to sell a 25% stake to the wind turbine manufacturer to accelerate its own growth which includes launching a new energy transition fund next year.

The strategy is designed to target some of the smaller investors entering and increasing their activity in the sector, Amundi’s Guy Lodewyckx tells Infrastructure Investor.

In addition to the $2.34bn raised, investors, which now include PSP Investments and the US development finance institution, will also have $3bn in co-investment rights.

The Canadian firm has already made four seed investments from BID II, which it raised in a little over a year.

The group’s third European fund was launched in September 2019, targeting €3.5bn over a series of fundraisings.

Targeting a final close on $500m by 2021, the fund will invest in small and mid-sized renewables projects and developers in emerging Asia.

Quinbrook Renewables Impact Fund, which has a £1bn hard-cap, is set to focus on UK renewables, storage and grid support.

The fund will target renewable assets in both Europe and North America and is open to further commitments from additional investors.

Mike Fitzpatrick, who founded Hastings Funds Management in 1994, is hoping to raise A$200m for a vehicle that will invest in funds managed by ICG and ATLAS.