Kensington Power Income Fund LP, which is managed by Toronto-based alternative assets manager Kensington Capital Partners, was recently closed. Launched in 2012, and focused on investing in mid-market power projects, the fund raised commitments totaling over $41 million. According to Kensington, the fund has already invested almost half of its capital in electrical generating assets in Alberta and British Columbia. That activity includes its most recent disclosed deal, the Dec. 2013 purchase of Sparwood, B.C.-based heat recovery platform Crowsnest Pass Power Plant from Mistral Power Inc. Kensington plans to launch another power income fund for individual investors later this year.
Kensington Capital Partners Successfully Closes First Infrastructure Fund
TORONTO, Feb. 7, 2014 /CNW/ – Kensington Capital Partners Limited is pleased to announce the successful closing of the Kensington Power Income Fund L.P. in December 2013, which raised over $41,000,000. To date, the Fund has invested almost half the funds in electrical generating assets in both Alberta and British Columbia.
The Kensington Power Income Fund L.P. was launched in late 2012 and is focused on mid-market power projects. It is designed for both accredited and high net worth investors with the opportunity to capture steady, inflation protected cash flows from the same kinds of infrastructure assets that have previously been available to only the largest institutional investors. The fund is investing in the power sector with a primary focus on clean energy and renewables, which includes generation, transmission and distribution across 50 states, 10 provinces and 4 territories in the United States and Canada.
The Fund minimizes the risks to investors from construction, development and the regulatory approval process by focusing on assets that are already generating electricity and have positive cash flows.
“We are delighted to have achieved this key milestone for Canadian individual investors” noted John H. Walker, Managing Director of Kensington. “We deliver a portfolio of existing power generating assets that have predictable cash flows from long term power purchase agreements with strong credit worthy buyers with experienced operating teams in place.”
Kensington plans to launch another power income fund for individual investors in the latter half of 2014.
Kensington, founded in 1996, is a leading Canadian investor in alternative investments. Kensington is best known for its private equity investment programs, having committed over $600 million since 2002, and is also an active investor in infrastructure assets and hedge funds. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information about Kensington and our current offerings, please visit www.kcpl.ca.
SOURCE Kensington Capital Partners Limited
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