Infrastructure investment firm Pioneer Point Partners LLP has closed its first institutional fund.
The UK company this week announced a Final Close of €575 million ($640.9m) on its maiden institutional fund, Pioneer Infrastructure Partners SCSp. The close exceeded Pioneer's original €500 million ($557m) target.
The fund attracted commitments from 15 European and North American institutional investors including pension funds, endowments, insurance companies, financial institutions and family offices.
Pioneer said the fund will target a diversified portfolio of eight to 10 investments. Since the First Close in December 2020, the fund has committed €120 million ($133.6m) in two investments, including €60m to Irish biogas plant operator Stream BioEnergy and €60m to Spanish renewables firm Altano Energy.
Pioneer Point was advised on the fundraise by Cotton Ginsberg Capital Partners as placement agent and Fried Frank as legal counsel.
Founded in 2008, Pioneer largely focuses on energy transition and environmental infrastructure. But the company has made several data center investments recently; the company is investing in the 450MW Sines 4.0 campus project in Portugal alongside Davidson Kempner Capital Management LP. The two firms have also invested in Ireland’s Echelon Data Centres.
