University Pension Plan (“UPP”) has committed €150 million to Copenhagen Infrastructure Partners’ (“CIP”) latest flagship strategy, Copenhagen Infrastructure V (the “Fund”), as part of the Fund’s first close.
The commitment is one of several new investments by UPP in infrastructure and real estate as part of its active strategy to further diversify its portfolio with inflation-protected assets and help build sustainable value for Plan members.
The Fund – which is dedicated exclusively to greenfield renewable energy infrastructure investments – is on track to achieve its target size of €12 billion, which will make it one of the largest of its kind globally. Building upon the legacy of its predecessor flagship funds, it aims to invest across a range of technologies, including offshore wind, energy storage, and onshore wind and solar projects, in countries spanning North America, Western Europe, and the Asia Pacific.
“We are delighted to partner with CIP, a global leader in development and construction of renewable energy projects. CIP has a very robust risk focus and strong value creation track record, and we expect the Fund to generate positive value and great long-term investments, that will support our ability to meet the needs of our members,” said Peter Martin Larsen, Senior Managing Director, Head of Private Markets Investments at UPP.
The Fund is classified as an Article 9 fund under the European Union’s Sustainable Finance Disclosure Regulation as having an objective of sustainable investment or a reduction in carbon emissions, ensuring alignment with UPP’s Climate Action Plan, which sets a path to net-zero portfolio emissions by 2040 or sooner, with an emphasis on decarbonizing the real economy.
“Establishing mutually beneficial partnerships with market-leading, like-minded investors like CIP is a cornerstone of our investment strategy,” added Larsen. “Energy transition infrastructure provides an opportunity to capture attractive and stable long-term returns for our members while also promoting a sustainable future beyond our own portfolio.”
Founded in 2012, CIP is today the world’s largest dedicated fund manager within greenfield renewable energy investments and one of the global leaders in offshore wind. CIP manages 11 funds and has to date raised approximately €25 billion for investments in energy and associated infrastructure from more than 150 international institutional investors.
Funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X. For more information, visit www.cip.com.
Managing Director, Strategic Communications and External Relations
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