Capital Dynamics Closes $1.2 Billion Clean Energy and Infrastructure Deal

Capital Dynamics, an independent global asset manager, has announced capital commitments of $1.2 billion for the closing of its Clean Energy and Infrastructure VII JV LLC fund (“CEI VII”).

This is a successor fund to CEI V, which held its final closing earlier this year at $1.2 billion. It has now been fully invested in over 1.5 GW of solar projects in the U.S.

Capital Dynamics manages approximately $4.8 billion for its clean energy infrastructure strategy and is the second largest owner of solar projects in the United States, according to the company.

Dutch asset manager APG, the California State Teachers’ Retirement System (“CalSTRS”) and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), the three investors in the CEI V vehicle, are the primary equity participants in CEI VII. The fund will be invested in U.S.-based utility-scale renewable generation assets.

“With the close of CEI VII, we will continue to execute our proven investment strategy of investing in high-quality renewable energy generation projects,” said John Breckenridge, head of the Capital Dynamics Clean Energy Infrastructure business.

He added, “We greatly appreciate the continued confidence of our major investors and are committed to helping them achieve both their investment and ESG goals. Our highly focused and efficient approach to the sector has led to great success for CEI V and we look forward to continuing to execute our strategy with CEI VII.”

Recently, the data released by Mercom Capital Group’s Q2 2018 Solar Funding and M&A Report found that the total corporate funding, including venture capital funding, public market, and debt financing rose to $5.3 billion in the first half (1H) of 2018 compared to the $4.6 billion raised in 1H 2017. This correlates to a 15 percent increase year-over-year (YoY).