Insider Brief:
- Pioneer Point Partners had an €800 million target and exceeded this, raising money from a variety of institutional investors.
- More than 50% of the funds came from investors who had previously invested with Pioneer Point.
- The investment fund will target subsectors in the green economy, such as green transport, renewable heat, or biogas.
London-based sustainable investment fund Pioneer Point Partners has raised £1.1 billion for its second institutional fund.
The Pioneer Infrastructure Partners II SCSp exceeded its €800 million target, and raised the funds in just over a year, which the fund called “a significant achievement in the current market environment.”
The fund received support from many different types of institutional investors, including public and private pension funds, insurance companies, asset managers, endowments, and foundations. Most of these institutional investors hailed from Europe and North America.
More than 50% of funds came from investors which had previously invested with Pioneer Point Partners.
The funds will be applied to investing in and promoting environmentally impactful businesses driving climate change mitigation and the transition to the circular economy, the fund said.
Pioneer Point has previously invested in Dutch energy firm Yeager Energy, a geothermal platform, and OG Clean Fuels, a clean fuel filling stations platform.
Harriet Rae, Pioneer Point’s head of investor relations, told Impact Investor that the fund would target subsectors in the green economy such as green transport, renewable heat, or biogas.
In terms of Pioneer Point’s investment philosophy, Rae said, “We do a lot of heavy lifting, a lot of platform scaling and construction. We don’t typically buy operational assets just to tweak and improve them. It’s about building companies.”
