Growth Markets Funds

Funds

Growth Markets Funds

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.

Growth Markets Fund II

CIP’s Growth Markets Fund II closes at USD 3 billion

Copenhagen Infrastructure Partners (CIP) has finalised fundraising for the second vintage of its Growth Markets Fund, GMF II. The fund targets large-scale energy infrastructure projects in 15 select high-growth, middle-income markets across Eastern Europe, Asia, and Latin America.

GMF II is nearly triple the size of the first vintage, with USD ~3 billion in commitments to the fund and associated vehicles. The fund is already delivering strong performance in the form of total value exceeding paid-in capital at final close and USD 1.6 billion committed across nine investments.

With strong portfolio optionality and high visibility on near-term investments, GMF II is on track to be fully committed within one to two years.

CI GMF II

Commissioning of the largest standalone battery project in Chile, constructed below budget.
Commencing construction on Mexico’s first large-scale solar and battery storage projects after securing the largest capacity under the recent binding planning framework issued by the Mexican government.
Reaching financial close on the onshore wind project Pestera II, one of the largest renewable energy investments in Romania.

With strong portfolio optionality and high visibility on near-term investments, GMF II is on track to be fully committed within one to two years.

3 bn

Final close

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).

Reaching a USD 3 billion final close and tripling the fund size compared to our predecessor fund is a strong validation of our Growth Markets strategy and of investors’ confidence in our ability to originate, develop, and build large-scale renewable energy projects.

Niels Holst, Partner

Fund Leadership

Niels Holst

Lead Partner

Ole Kjems Sørensen

Lead Partner