Wed, 06/03/2019 - 21:28
Quinbrook Infrastructure Partners (Quinbrook), a specialist global investment manager focussed exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, the UK and Australia, has held the closing of its Low Carbon Power Fund, raising a total of over USD1.6 billion in investor commitments to the strategy.
David Scaysbrook, co-founder and managing partner of Quinbrook, says: “We are very grateful to both our longstanding investors and our new institutional clients who have enabled us to achieve our largest fund raising to date. 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. We believe our team is exceptional and includes professionals who have been investing within energy infrastructure now for over 20 years. That collective expertise, commitment to ESG principles and industrial approach to energy investing has differentiated our strategy with investors."
Scaysbrook highlighted Quinbrook’s commitment to Environmental, Social and Governance (ESG) principles as a core feature of the firm’s investment philosophy and the very tangible benefits derived from the implementation of these principles. Quinbrook’s focus on new asset creation through development, construction and long-term operation of lower carbon energy infrastructure affords significant and measurable community and societal benefits, encompassing job creation and preservation, carbon emissions reduction, improved governance and transparency, safer working conditions and direct financial support of local communities.
The Fund’s institutional investors include primarily pension funds and insurance institutions from the US, UK and Australia. Quinbrook has made seven portfolio investments to date spanning utility scale onshore wind and solar PV, battery storage, gas peaking and reserve capacity as well as ‘smart grids’ and embedded networks. Notable investments so far include: Scout Clean Energy in the US, which is currently constructing the 300MW Ranchero wind farm in Texas, managing the 200MW Persimmon Creek operating wind farm in Oklahoma and is developing a pipeline of over 2GW of wind projects across the US; the 690MW Gemini solar PV development project in Nevada; Glidepath Power Solutions, which holds the 244MW Huntsman operational wind portfolio as well as a 1GW development pipeline of solar PV and battery storage projects across the US; and the c. 200 MW Reserve Power peaking portfolio in the UK.
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.”
O’Melveny in London and Carey Olsen in Jersey acted as fund counsel to Quinbrook and First Avenue acted as exclusive placement agent.
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