Capital Dynamics closes $1.2bn Clean Energy Infrastructure Fund

24 August 2018 (Last Updated August 24th, 2018 10:28)

Global asset management company Capital Dynamics has closed its latest Clean Energy and Infrastructure VII JV fund (CEI VII).

Global asset management company Capital Dynamics has closed its latest Clean Energy and Infrastructure VII JV fund (CEI VII).

With a capital commitment of $1.2bn, the fund will be invested in utility-scale renewable generation assets across the US.

“Capital Dynamics is reported to be the second largest owner of solar projects in the US, with 2.3GW of solar projects in its current portfolio.”

The primary equity participants in the fund were Dutch asset manager APG, the California State Teachers’ Retirement System (CalSTRS) and an Abu Dhabi Investment Authority (ADIA) subsidiary.

The three investors were also part of the CEI V fund, which is the predecessor of CEI VII.

CEI V obtained final close earlier this year at $1.2bn and was completely invested in 1.5GW of solar projects in the US.

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 is reported to be the second largest owner of solar projects in the US, with 2.3GW of solar projects in its current portfolio including five of the 15 largest solar farms.

Currently, the company manages nearly $4.8bn in total for its clean energy infrastructure strategy.