Major players Rest, TelstraSuper, and KLP support a £3 billion initiative for infrastructure investment
Quinbrook's Net Zero Power Fund Closes £4.3bn, Attracts Global Investors
Quinbrook, a leading investor in renewable energy and storage infrastructure, has announced the successful closure of its Net Zero Power Fund at £4.3bn. This marks the largest closing to date for the fund's manager and attracts new institutional investors from the US, Canada, Australia, UK, Sweden, Norway, Finland, and the EU.
The fund, which raised £3bn in its latest fundraiser, has secured investments from notable entities such as TelstraSuper, Australia's A$75bn superannuation fund, and KLP, Norway's largest pension fund. The exact amounts invested by these funds were not disclosed. Additionally, the A$25bn TelstraSuper fund's investment aligns with their goal to invest at least 1% of their investment portfolio in climate-change focused opportunities by 2025, as stated by Graeme Miller, the CIO of Quinbrook.
Quinbrook has already invested and committed more than half of the total capital committed to date across its existing portfolio. Some of these investments include Rowan Digital Infrastructure, a data centre operator, US solar developer Primergy Solar, and the Supernode Storage Project, a battery energy storage system.
Graeme Miller expressed excitement about investing in infrastructure that may assist the energy transition of the global economy. He also highlighted the increasing need for sustainable data centres as the adoption of AI accelerates, stating that these centres will be crucial in supporting the flow of data globally.
The Net Zero Power Fund's success underscores Quinbrook's commitment to supporting the transition to a low-carbon economy. With the fund now fully committed, Quinbrook expects to be fully committed within the next 12 months. The total capital raised for the fund now stands at £4.3bn.
