Fundraising

Quinbrook reaches $1.6bn final close on inaugural fund

The London-based firm said it has secured commitments from institutions in the UK, US and Australia and has made seven fund investments to date.

-

Quinbrook Infrastructure Partners has announced the final close of its Low Carbon Power Fund on around $1.6 billion.

The firm said that it had secured “over $1.6 billion” in commitments to its inaugural fund from primarily pension funds and insurance institutions in the UK, US and Australia, but did not disclose the precise figure.

The fund has made seven investments to date including US wind farm developer and operator Scout Clean Energy in the US, the 690MW Gemini solar PV project in Nevada, US wind and solar developer Glidepath Power Solutions, and a reserve power peaking portfolio of approximately 200MW in the UK.

The value of these investments and the proportion of the fund they represent has not been disclosed. Quinbrook did not respond to a request for comment.

Quinbrook was founded as a clean energy investment manager by David Scaysbrook and Rory Quinlan, who both left Switzerland-based Capital Dynamics in 2015 and previously managed renewables company Novera Energy.

It has focused to date on developing low-carbon power generation projects in Australia, the US and the UK. It currently manages the Cap Byron Infrastructure Fund, which it bills as “one of Australia’s largest baseload 100 percent renewable power generators”, on behalf of a UK institution.

The firm has previously said that the fund will target investments in utility-scale onshore wind and solar PV, battery storage, gas peaking and reserve capacity as well as ‘smart grids’ and embedded networks.