CIP closes $3bn growth fund

GMF II is nearly triple the size of the first vintage and has already committed $1.6 billion across nine investments, targeting large-scale energy infrastructure across 15 high-growth, middle-income markets in Eastern Europe, Asia and Latin America. Named investments include the largest standalone battery project in Chile, commissioned below budget, and Mexico's first large-scale solar-and-battery builds, begun after securing the largest capacity under the government's binding planning framework. The fund has also reached financial close on the Pestera II onshore wind project in Romania. CIP expects the fund to be fully committed within one to two years.