Copenhagen Infrastructure Partners (CIP) has raised 1.3 billion euros (approximately 9.7 billion DKK) at the first closing of the CI Green Credit Fund II fund. The fund is the second edition of the company's credit strategy and has a goal of raising a total of 2 billion euros (approximately 14.9 billion DKK).
The capital comes from institutional investors globally, including sovereign wealth funds, insurance companies and pension funds. CIP states that it has also invested "significantly" in the fund, which according to the company shows its faith in the fund's strategy.
The strategy for the fund is to provide loans to projects within renewable energy and companies in the energy transition in OECD countries, particularly in Europe and North America, as well as selected markets in the Asia-Pacific region.
The new fund has already made its first investment. It has provided refinancing for a Dutch portfolio of solar and battery storage assets with a total capacity of 450 MW.
- We are very pleased to have achieved a strong first closing for our flagship fund in credit with significant support from both existing and new investors in North America, Europe and the APAC region. We believe that the market for this type of capital provides investors with an attractive risk-adjusted return, while contributing capital that can help drive the expansion of necessary energy solutions, says Jakob Groot, partner and co-head of CIP's credit platform at Copenhagen Infrastructure Partners.
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