Carey Olsen has advised Quinbrook Infrastructure Partners ("Quinbrook") on the Jersey aspects of the fund formation and final closing of Quinbrook Renewables Impact Fund II ("QRIF II"), which secured £587 million of investor commitments, exceeding its £500 million target.
QRIF II is Quinbrook's fifth managed fund and builds on the strategy of its inaugural Renewables Impact Fund ("QRIF"), which closed in 2023. The fund will focus on delivering the infrastructure required to support the UK's Clean Power 2030 targets and Ireland's target of meeting 80% of electricity demand from renewable sources by 2030.
QRIF II was marketed exclusively to institutional investors in the UK and Ireland and saw a strong re-up rate from QRIF investors.
Carey Olsen has worked with Quinbrook since the company was established in 2015, advising on the successful close of its inaugural Renewables Impact Fund in 2023. The Jersey investment funds team advising Quinbrook on QRIF II comprised partner Christopher Griffin, senior associates Edward Kelleher-Ward and Sally Meggitt-Smith, associates Marco Carossa and Danielle Hawkins, and trainee Chloe Coupel.
Christopher Griffin commented: "The successful close of QRIF II reflects the continued investor appetite for renewable energy and energy transition infrastructure. Having advised Quinbrook since its establishment, we are delighted to have supported the team on another significant milestone. The transaction also reinforces Carey Olsen's experience advising on investment structures that support the development of critical energy infrastructure and the transition to a lower-carbon economy."