Growth Markets Funds

Funds

Growth Markets Funds

The Growth Markets Funds focus on investments in large-scale and complex greenfield energy infrastructure projects in high-growth, middle-income markets.

The Growth Market Funds focus on investments in large-scale and complex greenfield energy infrastructure projects in high-growth, middle-income markets with strong fundamentals for renewable development and significant impact potential. The funds target high-growth, middle-income markets across Asia, Latin America and EMEA with strong fundamentals for energy infrastructure investments with a combination of high economic and demographic growth including an expanding middle class leading to an accelerating electricity demand.

GMF II will be deploying significant private capital and therefore ensure energy projects in countries, where it will contribute to growth and job creation and deliver substantial impact in terms of reducing carbon emissions.

Christina Grumstrup Sørensen, Senior Partner

CI GMF II

Copenhagen Infrastructure Growth Markets Fund II SCSP (CI GMF II) was launched in December 2023 with a USD 3 billion target size.

GMF II will focus on investments in large-scale and complex greenfield energy infrastructure projects in high-growth, middle-income markets with strong fundamentals for energy development and significant impact potential.

The fund is targeting 15 selected high-growth, middle-income markets across Asia, Latin America and EMEA, such as India, Vietnam, Philippines, Mexico, and South Africa. The fund has ownership to a diversified portfolio of attractive development stage projects across offshore wind, onshore wind, solar PV, battery storage and power-to-X representing more than USD 5 billion in potential commitments – significantly exceeding the target fund size of USD 3 billion.

GMF II is a successor fund to Growth Markets Fund I launched in 2019.

3 bn

Target fund size

CI GMF I

Copenhagen Infrastructure Growth Markets Fund I K/S (CI GMF I) reached first close of USD 700m in May 2019. The fund was oversubscribed and reached final close in November 2019 with commitments of USD 1.0 billon exceeding the target fund size.

CI GMF I primarily invests in greenfield energy infrastructure projects in the fast-growing economies across Asia and Latin America as well as certain countries in Eastern Europe with scale, growth, and liquidity. With a term of ten years and a “build-and-exit” strategy, the fund will participate in completing late-stage development, finance construction, and ultimately divest once assets are operational. The fund will apply the same value creation and de-risking approach as CIP’s OECD-focused funds and invest in offshore and onshore wind, solar PV, biomass and waste-to-energy and transmission grid systems among others.

This fund is closed to new investors.

700 m

first close

1 bn

final close

Projects

The CI GMF I Base Case Portfolio includes several attractive greenfield projects across countries such as South Africa, Poland, Vietnam, Colombia, and India (Unicus).

Fund Leadership

Niels Holst

Lead Partner

Ole Kjems Sørensen

Lead Partner