Sustainable infrastructure firm Pioneer hits EUR-150m 1st close for maiden fund

London-based specialist infrastructure investment firm Pioneer Point Partners LLP has recently achieved a EUR-150-million (USD 182m) first close for its maiden institutional fund, which will invest in sustainable infrastructure.

The fund, called Pioneer Infrastructure Partners SCSp, has so far received support from five European and North American institutions. Pioneer Point Partners described the backers as “highly reputable, long established infrastructure investors.”

The goal for the fund is to raise total capital commitments of EUR 500 million. It is targeting an internal rate of return (IRR) of at least 15%.

Pioneer said that the fund will be deployed in line with its lower mid-market, value-add infrastructure strategy in the energy transition and environment sectors across Western Europe.

The investment firm has previously committed almost EUR 900 million of equity across nine deals. Among the businesses backed by it are: Danish green gas producer Nature Energy; Brockwell Energy, which owns energy-from-waste plants and onshore wind parks in Scotland; and Italian solar platform SR Investimenti.

(EUR 1.0 = USD 1.210)

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