Impact investor North Sky Capital has closed its third sustainable infrastructure fund on $200m.
The fund includes two parallel investment vehicles. The Infrastructure Investment Fund has raised $120m from private investors, while the National Impact Fund received $80m of federal and state new markets tax credits.
The fund will be used to support the development and construction of new sustainable assets in low income communities in the US, the firm said.
Scott Barrington, CEO at North Sky, said, “Our IIF strategy aims to finance sustainable infrastructure projects that create jobs and benefit the lives of people living in Low Income Communities while also generating market rate returns.
“We are grateful that so many of our existing investors have decided to join us in this initiative.”
North Sky had deployed more than $1.1bn across 12 impact investments through its ten funds.
It closed Clean Growth Fund V on $220m in 2019, tripling the size of its predecessor Clean Growth Fund IV which was closed on $63m in 2017.
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