On June 30, 2023, Copenhagen Infrastructure Partners (CIP) achieved a significant milestone with the first close of its fifth flagship fund, Copenhagen Infrastructure V (CI V), attracting EUR 5.6 billion in capital commitments.
Multiple leading institutional investors across continental Europe, the Nordics, the UK, North America, and the Asia-Pacific region participated in the first close of CI V. The close of CI V reaffirms CIP’s target to reach a fund size of EUR 12 billion, making it the largest dedicated greenfield renewable energy fund globally.
With increased appetite from other investors already in the process, the fund is well-positioned to achieve its target size and solidify its status as the world’s largest fund dedicated to greenfield renewable energy infrastructure investments.
Jakob Baruël Poulsen, Managing Partner at CIP, expressed his enthusiasm with the strong investor support and confidence in CIP’s renewable energy platform, and stated:
“Reaching nearly EUR 6 billion at first close is a testament to the importance of the fund, and the confidence placed in our industrial approach to energy infrastructure investments.”
Jakob Baruël Poulsen, Managing Partner at CIP
CI V follows the investment strategy of its predecessor flagship funds, CI I, CI II, CI III, and CI IV, leveraging a well-tested industrial value-creation approach.
The CIP approach involves entering projects early, effectively managing risks, and optimizing their potential before construction begins, thereby capturing the attractive greenfield premium and ensuring robust returns to investors.
The new fund is set to target greenfield investments in large-scale renewable energy infrastructure across offshore wind farms, energy storage, onshore wind, and solar projects in low-risk OECD countries within North America, Western Europe, and the Asia-Pacific region.
With the largest project pipeline among all CIP flagship funds, CI V is off to an impressive start. The fund already has ownership of over 40 renewable energy infrastructure projects, representing a potential commitment of approximately EUR 20 billion, exceeding 150% of the target fund size.
In June, CI V made its first final investment decision on a +400MW onshore wind project in the US, with construction expected to commence in the coming months.
