Energy, environment-focused Pioneer Point Partners hits first close for €500m-targeting maiden institutional fundraise

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Infrastructure investment specialist Pioneer Point Partners has struck a first close for its €500m-targeting debut institutional fundraise.

The firm has hauled in €150m to date for Pioneer Infrastructure Partners, which is eyeing a 15%-plus IRR.

Pioneer has previously committed nearly €900m of equity across nine investments on a deal-by-deal basis, targeting lower mid-market investments in the energy transition and environment sectors across Western Europe.

The firm said it was particularly proud of the close’s strong institutional backing given the backdrop of the Covid-19 pandemic. It began pre-marketing the fund in February last year, just before the full chaos of the pandemic became apparent.

Pioneer says the market opportunity for its niche remains unprecedented, with “trillions of euros of investment required in sustainable infrastructure across Europe that will drive the shift towards climate neutrality by 2050”.

Previous deals done by the firm include Nature Energy, a green gas producer in Denmark, Brockwell Energy, which owns a number of energy-from-waste and onshore wind projects in Scotland, and SR Investimenti, an independent platform building, owning and operating solar PV assets in Italy.

The Pioneer team was advised by Cotton Ginsberg Capital Partners, which acted as placement agent, and Fried Frank, which acted as legal counsel.

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