First close achieved for Copenhagen Infrastructure IV

Copenhagen Infrastructure Partners (CIP) has reached EUR 1.5 billion (US$ 1.69 billion) first close on Copenhagen Infrastructure IV (CI IV), which is set to become the largest fund globally within renewable energy infrastructure investments with a target fund size of EUR 5.5 billion (US$ 6.21 billion). The fund is expected to achieve capital commitments of EUR 5-7 billion (US$ 5.64-7.90 billion) and invest EUR 10-14 billion (US$ 11.30- 15.81 billion) in greenfield renewable energy infrastructure across North America, Western Europe, developed Asia and Australia. The investment strategy of CI IV will be a continuation of the successful CI I, CI II, and CI III.

The new fund reached a first close of EUR 1.5 billion (US$ 1.69 billion) on June 15, 2020 with capital commitments from a group of leading institutional investors, including the two Danish pension funds PensionDanmark and AP Pension, KLP from Norway as well as pension and life companies and large family offices. Several other prominent institutional investors are in the process of committing to CI IV, including investors from among others the Nordics, Continental Europe, UK, Israel, North America, Asia and Australia.

The investment strategy is a continuation of the successful predecessor funds Copenhagen Infrastructure I, II and III, and is tailored to institutional investors with a long-term investment horizon. The fund will focus on greenfield investments within core energy infrastructure. It has a global reach and will diversify investments across technologies such as contracted offshore wind, onshore wind, solar PV, transmission, storage, waste-to-energy and biomass assets in low-risk OECD countries in Western Europe, North America and developed the Asia Pacific.

The investments of the fund are expected to have a significant positive environmental impact (including CO2 reduction) and create high-quality jobs in the local communities of the assets. With the establishment of CI IV, CIP’s total portfolio of investments is estimated to save the equivalent of approximately 10-11 million tonnes of CO2 each year and sustainably power approximately 5-6 million households across the globe.

Bruun & Hjejle, Clifford Chance, and Fried Frank act as legal counsel. Selinus, Eaton Partners, and CFJC act as placement agents.