Quinbrook Infrastructure Partners has surpassed its initial 拢500m (鈧�576m) fundraising target for its UK-focused renewables impact fund by over 20%.
The investment manager said the Quinbrook Renewables Impact Fund (QRIF) received 拢620m in capital commitments at close.
Quinbrook said QRIF鈥檚 portfolio includes Cleve Hill in Kent, Rassau Synchronous Condenser in Wales, Thistle critical grid support portfolio, comprising four synchronous condenser new-build projects in Scotland, the 230MW Uskmouth battery storage project in Wales, and Habitat Energy, a battery optimisation platform.
QRIF鈥檚 portfolio includes a range of long-term inflation-linked contracts with investment-grade counterparties such as National Grid and the UK government.
Rory Quinlan, managing partner and co-founder of Quinbrook, said: 鈥淪elect UK power infrastructure assets can have valuable diversifier benefits to portfolio investments which are strongly correlated to GDP.
鈥淭his coupled with QRIF鈥檚 鈥榳hole of system鈥� investment philosophy, directly tackles the critical infrastructure needs and enablers for a stable transition to a decarbonised power system.鈥�
Mark Burrows, Quinbrook鈥檚 head of Europe, capital formation and investor engagement, said: 鈥淪trong macro tailwinds are supporting QRIF鈥檚 investment strategy, with the confluence of societal will, political imperatives which are cross-party in the UK and fundamental economics driving decarbonisation of power.
鈥淔urthermore, investors have responded to the genuine and tangible impact delivered by QRIF鈥檚 focus on the development, construction and long-term operation of new infrastructure projects.鈥�
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