Climate Adaptive Infrastructure (CAI), an investment firm that targets control investments in large-scale, low-carbon real assets in the clean energy, water, and urban infrastructure sectors, has closed its inaugural fund, Climate Adaptive Infrastructure Fund, raising more than $825 million in equity.
In addition to the fund, CAI has an affiliated co-investment program of more than $200 million, for a total of more than $1 billion in equity to deploy. The fund attracted an institutional set of global limited partners comprised of endowments, foundations, insurance firms, pensions and superannuation funds, and fund of funds, in addition to prominent family offices and high-net-worth individuals.
To date, CAI has deployed 39 percent of the fund across three investments -- Intersect Power, a clean energy company providing low-carbon electricity, fuels, and related products to customers across North America; Sentinel Energy Center, an 850 MW critical peaking power plant in