Montana Board of Investments (MBOI) has backed two infrastructure funds.
The pension fund committed €75 million ($91 million) to Copenhagen Infrastructure IV (CI IV), a global greenfield renewables energy fund managed by Copenhagen Infrastructure Partners, and $50 million to EQT Infrastructure Fund V, managed by EQT Infrastructure.
CI IV is the largest dedicated greenfield renewable energy fund globally and is expected to invest in greenfield investments within core energy infrastructure projects. The fund has a global reach and will diversify investments across technologies such as offshore wind, onshore wind, solar photovoltaic, transmission, storage and waste-to-energy in low-risk OECD countries in Western Europe, North America, developed Asia and Australia.
CI IV closed at its hard cap of €7 billion ($8.4 billion), surpassing its target size of €5.5 billion ($6.6 b