Home Exclusives
Exclusives
Jonathan Ord began his tenure in March but has returned to his previous role at the Local Pensions Partnership.
The vehicle is targeting high single-digit returns and will focus investments mostly in Europe.
The launch of the latest vehicle comes two years after the fund manager closed its GRPF II on $1.6bn, which has invested in more than150 projects.
The hard-cap for the German firm’s fourth renewables fund now sits at €750m after more than 90% of investors approved the increase.
The fund manager will look to attract institutional capital to invest in the new company, while its management team will hold a ‘significant minority stake,’ a source said.
The Miami-based firm has realised more than $2.8bn from the exits of three platform companies formed through its first infrastructure fund.
Nearly 150 LPs have committed to GIP IV, which will follow the same strategy as its predecessors and target 15%-20% gross returns.
Executive’s arrival comes two months after leaving his position as head of infra debt at BlackRock.
It’s all in the timing – or is it? We speak with Howard Marks and Bruce Flatt about the deal that has got everyone talking.
Firm raises more than €2.5bn for its fourth vintage as it heads towards target of about €5bn-€6bn.