Copenhagen Infrastructure Partners (CIP) is launching its first debt fund, CI Green Credit Fund I (CI GCF I), with a target size of €1 billion ($1.1 billion).
CI GCF I launched with €320 million ($361 million) in seed capital, provided by a small group of investors including a large Danish pension fund and Singlife with Aviva, a Singapore-based financial services company.
The fund will be marketed to existing and new investors from across the Nordic region, the rest of Europe, North America, Asia and Australia, and it is expected to reach final close within 12 months.
CI GCF I will provide private project finance debt with subordinated risk characteristics supporting renewable-energy projects globally. The focus will be on green- and brownfield projects in offshore wind, onshore wind, solar photovoltaic, biomass, storage and transmission assets. Geographically, the fund will focus on Europe, North America and selective jurisdictions in Asia Pacific.
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