Kensington Power Income Fund LP, which is managed by Toronto-based alternative assets manager Kensington Capital Partners, has closed its first infrastructure fund, Kensington Power Income Fund L.P., with over CAD$41 million in committed capital.
Launched in late 2012, Kensington Power Income Fund 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.
John H. Walker, Managing Director of Kensington, stated:
We are delighted to have achieved this key milestone for Canadian individual investors. 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 Power Income 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.
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 plans to launch another power income fund for individual investors in the latter half of 2014.