Quinbrook Infrastructure Partners – a global investment manager focused exclusively on lower-carbon and renewable energy infrastructure investment and operational asset management in the U.S., the U.K. and Australia – has announced the successful closing of its low-carbon power fund, raising a total of over $1.6 billion in investor commitments to the strategy.
The fund’s institutional investors include primarily pension funds and insurance institutions from the U.S., the U.K. and Australia. O’Melveny in London and Carey Olsen in Jersey (U.K.) acted as fund counsel to Quinbrook, and First Avenue acted as exclusive placement agent.
Quinbrook has made seven portfolio investments to date, spanning utility-scale onshore wind, solar PV, battery storage, gas peaking and reserve capacity, and smart grids and embedded networks.
“We are very grateful to both our long-standing investors and our new institutional clients who have enabled us to achieve our largest fund raising to date,” says David Scaysbrook, co-founder and managing partner of Quinbrook. “We especially value their commitment to Quinbrook’s investment strategy, which seeks to deliver both ongoing cash yield and absolute gains from the creation of new low-carbon energy infrastructure assets and the remediation of impaired or undervalued energy assets and businesses.”
Rory Quinlan, co-founder and managing partner of Quinbrook, adds, “Our team is a combination of experienced power project developers, operators and institutional investment managers with decades of expertise in generating investment returns across the full spectrum of lower-carbon and renewable energy generation. Our collective objective is and will always remain focused on using our expertise to deliver the investment returns sought by our clients and to manage their assets in a responsible manner.”
The firm’s notable investments so far include Scout Clean Energy in the U.S., which is currently constructing the 300 MW Ranchero wind farm in Texas, managing the 200 MW Persimmon Creek operating wind farm in Oklahoma, and developing a pipeline of over 2 GW of wind projects across the U.S.; the 690 MW Gemini solar PV development project in Nevada; Glidepath Power Solutions, which holds the 244 MW Huntsman operational wind portfolio, as well as a 1 GW development pipeline of solar PV and battery storage projects across the U.S.; and the c. 200 MW Reserve Power peaking portfolio in the U.K.