Pioneer Point Partners has completed a €150 million ($182 million) first close of its first institutional fund, Pioneer Infrastructure Partners, against its target of €500 million ($607 million). Five European and North American institutions contributed to the close.
The fund began marketing in February 2020 and completed the close on schedule in December 2020, despite challenges brought on by the COVID-19 pandemic.
Pioneer Infrastructure Partners will follow the firm’s lower mid-market, value-add infrastructure strategy in the energy transition and environment sectors across Western Europe.
Pioneer has previously committed nearly €900 million ($1.1 billion) of equity across nine investments on a deal-by-deal basis.
Pioneer said it believes the market opportunity remains unprecedented, with trillions of euros of investment capital needed in sustainable infrastructure across Europe to support the shift towards climate neutrality.
