Independent asset manager Capital Dynamics has closed its Clean Energy and Infrastructure VII JV LLC fund (CEI VII) with capital commitments of $1.2bn.
Capital Dynamics’ CEI VII fund is a successor fund to CEI V, which closed earlier this year at $1.2bn and has now invested in more than 1.5GW of solar projects across the US.
The participants of CEI VII include Dutch asset manager APG, the California State Teachers’ Retirement System (CalSTRS) and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). These three investors in the CEI V vehicle are the primary investors in CEI VII. The fund is expected to invest in US-based utility-scale renewable energy generation assets.
Capital Dynamics Clean Energy Infrastructure business head John Breckenridge said: “With the close of CEI VII, we will continue to execute our proven investment strategy of investing in high-quality renewable energy generation projects.
“We greatly appreciate the continued confidence of our major investors and are committed to helping them achieve both their investment and ESG goals. Our highly focused and efficient approach to the sector has led to great success for CEI V and we look forward to continuing to execute our strategy with CEI VII.”
Capital Dynamics’ Clean Energy Infrastructure (CEI) has expertise in investing, financing, owing and operating conventional and clean energy businesses globally.
The CEI team currently manages 3.1 net GW of power generation capacity across North America and Europe.
Headquartered in Zug, Switzerland, Capital Dynamics was founded in 1999 and it has expanded beyond private equity offerings. It established a clean energy infrastructure platform in 2010 to directly invest in real assets in the renewable energy sector.