Pioneer Point Partners (Pioneer), the sustainable infrastructure investment firm, has reached a final close of €575 million on its maiden institutional fund, Pioneer Infrastructure Partners. The final close exceeded the €500 million target that Pioneer initially set.

The fund generated significant interest, with commitments from 15 long-established European and North American institutional investors, including pension funds, endowments, insurance companies, financial institutions and family offices.

The Fund is targeting a 15+ percent IRR over a ten-year term, including an annual cash yield of 4-6 percent, through a diversified portfolio of 8 to 10 investments. It will be deployed in line with Pioneer’s historically successful lower mid-market, value-add infrastructure strategy in the energy transition and environment sectors across Western Europe, which previously saw the Firm commit over €900m of equity across ten investments on a deal-by-deal basis, delivering superior risk-adjusted returns.

Since the First Close in December 2020, The Fund has committed €120 million in two investments, including €60 million to Stream BioEnergy Limited, a developer and operator of biogas plants in the Republic of Ireland and Northern Ireland, and €60 million to Altano Energy, which is building a renewable energy portfolio in Spain.