Sandbrook Capital Raises $2.1 Billion for Climate Infrastructure – Closes Inaugural Fund at Hard Cap
Sandbrook Capital, a private investment firm dedicated to transforming the world’s energy infrastructure, today announced the final closing of Sandbrook Climate Infrastructure Fund I at its hard cap of $1.5 billion. The fund, which significantly exceeded its $1.0 billion target, represents one of the largest emerging manager vehicles focused on energy transition infrastructure. The firm now manages $2.1 billion in limited partner capital, including associated co-investment vehicles.
Sandbrook’s founders have been investing together for nearly 15 years and bring decades of experience in the renewable energy sector. Collectively, they have established a differentiated investment track record across multiple geographies, sectors and business cycles. The firm has built a diverse team of nearly 30 people, including investment professionals from a number of leading private equity firms as well as executives with significant operational expertise, such as the former CEOs of Engie, Siemens Gamesa and Avangrid.
The fund invests in North America and Europe, supporting the growth of companies primarily within the clean power generation, transmission, storage, energy efficiency and industrial decarbonization sectors, as well as associated services and supply chain businesses. It has received strong support from a broad group of limited partners across North America, Europe and Asia, including pension funds, corporations and family offices.
Sandbrook’s founders said, “We are humbled by the overwhelming support of our investors, with whom we share common values and ambitions. The transition to a low carbon future is one of the greatest opportunities of our generation, and we will continue to draw on the experience of our investment and operations teams to accelerate proven climate infrastructure platforms to sustainably and profitably electrify the world.”
The fund has already made significant capital commitments to three platform investments:
- In August 2023, Sandbrook, alongside PSP Investments and IMCO, acquired NeXtWind, a leading German renewable energy company dedicated to leveraging existing clean power infrastructure by upgrading onshore wind farms. With $750 million of committed capital, NeXtWind is rolling up and repowering the large, fragmented and aging German onshore wind market and, in the process, growing into one of Germany’s largest renewable power producers.
- In June 2023, Sandbrook launched Voltwise Power, a developer, owner and operator of utility-scale battery energy storage systems (BESS). Voltwise is initially focusing on the UK and Germany, with the intention of expanding further across Europe. The company targets BESS projects strategically located near large power demand centers, in regions where the power grid faces heightened congestion, price volatility and fragility.
- In November 2022, Sandbrook acquired Havfram AS, a Norwegian company focused on the installation of offshore wind generation facilities in Europe. The company is currently building two next-generation turbine installation vessels capable of installing and servicing 20 MW+ offshore wind turbines. Both vessels are already contracted to build some of the world’s largest offshore wind farms over the 2026-2030 period, in partnership with leading operators such as Vattenfall, RWE and Ørsted.