New fund to help address Canada’s energy and infrastructure deficit
Bridgepoint Group Ltd. has launched the Greenfield Development Fund I LP, which the company says create a new investment platform that will provide early-stage pre-development funding for Canadian energy and infrastructure projects.
The company says that with Canada's infrastructure deficit projected to climb to $1 trillion by 2050, the establishment of the Greenfield Development Fund I LP presents a timely investment opportunity. The private equity fund will seek to raise capital and partner with industry to actively invest in, develop and manage energy and infrastructure solutions across Canada.
“Though there are many Canadian funds that target the energy and infrastructure sectors, the Greenfield Development Fund uniquely focuses on providing the pre-development investment dollars that enable projects to become construction ready,” said Frank Carnevale, president & CEO of Bridgepoint Group Ltd. “We will leverage Bridgepoint Group's 12 years of hands-on energy and infrastructure industry experience to mitigate risks and provide a unique investment opportunity.”
The Fund's investment strategy will be to acquire equity positions in power generation and social infrastructure projects where a creditworthy government or quasi-government counterparty will assure off-take payments for the power or services to be provided by the facility.
The company says the fund will participate in the management of the projects and seek to maximize its influence on the development process to minimize early stage development risks. As project owners and providers of development capital, Bridgepoint says the fund will be in a unique position to have a significant influence on the selection of strategic partners and key service providers.
Bridgepoint Group Ltd. is a boutique consulting, investment banking and private equity firm that enables the development, acquisition and management of sustainable energy and infrastructure in Canada and the United States. For more information, go to www.bridgepointgroupltd.com.