Copenhagen Infrastructure Partners (CIP), which has invested in Asian markets such as India, Vietnam, South Korea and Taiwan, has closed its fifth flagship fund above its 12 billion euro ($13 billion) target, according to an announcement.
The firm did not reveal how much capital the fund ultimately raised. The capital raised did not include co-investment commitments, it said.
CIP’s Partner Niels Holst had told DealStreetAsia earlier that the Danish renewable energy investment firm looked at Asia with two buckets of opportunities in lower-risk and higher-risk economies. The flagship fund series aims to invest across low-risk OECD countries, including Asia.
Meanwhile, growth market funds look to back projects in developing countries such as Malaysia, Indonesia, Vietnam, Thailand, the Philippines, and India. CIP is also raising its second growth markets fund, targeting $3 billion.
The fifth flagship vehicle, CI V, has already made six final investment decisions, committing 60% of the fund.
“With ownership of more than 50 development stage projects with a potential CI V investment volume of 24 billion euro, the fund is on track to be committed within the next year,” CIP said.
It added that the latest fund is estimated to add 30 GW of new energy capacity to the global grid, which is enough to power more than 10 million average households.
A significant amount of new power generation and capacity needs to be added to the grid to meet the growing demand for new electricity driven by digitalisation, AI and the rapid build-out of data centres, as well as the general electrification of transportation and heating.
“Massive structural tailwinds are pushing the energy transition forward. (…) The fundamentals for renewables are as strong as ever as industrial competitiveness, productivity, and energy resilience are at the centre of political and industrial agendas globally,” said Jakob Baruël Poulsen, Managing Partner at CIP.
CIP manages 13 funds and has raised approximately 32 billion euro for investments in energy and associated infrastructure so far.
In Asia Pacific, most recently, the firm has started the construction of a battery energy storage project in Australia, and acquired a 49% stake in South Korea’s Taean Wind Power.
It also extended its renewable energy partnership with AMPIN Energy Transition in India, and invested in wind farms in Taiwan and Australia in 2024.
