Capital Dynamics Raising $750M Clean Energy Fund

Firm: Capital Dynamics

Fund: Capital Dynamics Clean Energy and Infrastructure Fund LP

Target: $750 million

Amount Raised: About $325 million

Placement Agent: None

Capital Dynamics, which manages investments through separate accounts, investment funds and structured private equity products, has been marketing the Clean Energy and Infrastructure Fund since late 2012.  The fund will be structured for direct investments and ownership of clean energy projects such as wind farms, solar arrays, biomass plants, and hydropower.

Managing Director David Scaysbrook will lead-manage the fund in his capacity as head of clean energy and infrastructure at the firm, the source said. Scaysbrook, who founded U.K. power firm Novera Energy plc in 1997, has been investing in energy-related infrastructure projects for 20 years, according to his profile on the Capital Dynamics web site.

The fund’s roster also includes three other managing directors at Capital Dynamics: Karl Olsoni, Bob McClenachan and Rory Quinlan.

Cassandra Petrakis, a spokeswoman for Capital Dynamics, declined to comment.

Last September, Capital Dynamics closed its $282 million Capital Dynamics U.S. Solar Energy LP fund. In February of last year, Capital Dynamics closed its $111 million Capital Dynamics Champion Ventures VII, a U.S.-based venture program targeting top-tier U.S. venture managers or international venture firms with U.S. ties.

Capital Dynamics has raised about 30 funds dating back to the 1990s, according to data compiled by Thomson Reuters. Most of the vehicles are structured as funds of funds. Its top co-investors include Khosla Ventures LLC, Oak Investment Partners and Genesis Venture Capital Group, according to data from Thomson Reuters.

Capital Dynamics also served as an advisory shop to the Washington State Investment Board until 2010 after the LP ramped up its investment in private equity.

Gregory Roth contributed to this report.