Sandbrook raises USD 1.5bn for climate infrastructure fund

Energy infrastructure-focused private investment firm Sandbrook Capital has raised USD 1.5 billion (EUR 1.36bn) for its debut energy transition infrastructure fund, which has already made capital commitments to renewable energy and battery storage businesses.

North America and Europe-focused Sandbrook Climate Infrastructure Fund I, which originally targeted USD 1 billion in capital, has reached its hard cap with support from a broad group of limited partners across North America, Europe and Asia, including pension funds, corporations and family offices.

The new fund has already made significant capital commitments to three platform investments. A year ago, Sandbrook took a majority stake in Norwegian offshore wind services company Havfram AS, committing USD 250 million to fund its future growth. Then, during this past summer, the investor launched Voltwise Power, a battery energy storage systems (BESS) developer, and alongside two partners agreed to acquire German wind farm owner and power producer NeXtWind Capital Ltd.

Following the final close of the fund, Sandbrook now manages USD 2.1 billion in limited partner capital, including associated co-investment vehicles.

(USD 1 = EUR 0.912)

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