Asset management firm, Capital Dynamics has reportedly closed the deal of its joint venture fund, Clean Energy and Infrastructure (CEI) VII JV LLC with an investment of $1.2 billion. All in all, the total amount that Capital Dynamics’ manages for its clean energy and infrastructure strategy would be valued at around USD 4.8 billion, claim trusted sources.
The California State Teachers’ Retirement System based in West Sacramento is one of the three primary investors of the joint venture. The other two primary investors are Dutch asset manager APG and a wholly owned subsidiary of the Abu Dhabi Investment Authority.
The CEI VII fund is a successor to CEI V, which also closed at $1.2 billion this year and is currently invested in over 1.5 GW solar projects throughout the US, reported sources familiar with the development.
As per John Breckenridge, MD and Head of CEI business, the fund will continue to help the company in executing its proven investment strategy of financially backing high-quality renewable energy generation projects in the U.S.
Breckenridge further mentioned how Capital Dynamics appreciates the support from its primary investors and is determined to achieve both their investment and ESG goals.
For the record, Capital Dynamics is an asset management firm which offers an extensive range of funds, direct investments, structured private equity, and other financial solutions. Its Clean Energy Infrastructure’s current portfolio includes 2.3 GW of solar projects, including five of the 15 largest solar farms of the United States.
Currently, Capital Dynamics’ CEI team manages a power generation capacity of 3.1 net GW in Europe and North America. The team reportedly possesses a great expertise in financing, investing and operating conventional and clean energy businesses globally to establish clean energy technologies such as wind, solar, and biomass in addition to waste gas-fueled and conventional power generation.