Copenhagen Infrastructure Partners (CIP) has reached a $3bn final close for its second growth markets renewables strategy, marking a significant milestone for the Danish infrastructure investor.

The fund, which targets renewable energy investments in emerging economies, benefited from strong support from existing limited partners despite persistent geopolitical headwinds, according to partner Niels Holst.

CIP's latest vehicle builds on the success of its first growth markets fund and underscores continued appetite for climate-focused infrastructure in developing regions. The strategy focuses on solar, wind, and storage projects across Latin America, Asia, and Africa.

The closing comes amid a competitive fundraising environment where distributed generation and grid-scale renewables in growth markets have attracted heightened institutional interest. CIP's track record and local partnerships were cited as key differentiators.