Climate Fund Managers (CFM) has announced the financial close of Climate Investor Two (CI2) — a $1.065 billion facility supporting climate adaptation infrastructure across Africa, Asia, and Latin America. The fund, launched in 2019 through a partnership between the European Commission and the Dutch Fund for Climate and Development, surpassed its initial $1 billion target.
CI2 blends public and private capital to finance projects in energy, waste, and water, while managing risk and boosting investment in emerging markets. The close also marks the debut of CFM’s Bridge-to-Bond mechanism, developed with Sanlam Investments, allowing fixed-income investors to access CI2’s assets.
“Closing CI2 above target in a challenging environment underscores global appetite for climate adaptation,” said Andrew Johnstone, CFM CEO. Since its first close in 2021, CI2 has mobilized $339 million for 25 projects, including waste-to-energy ventures in Sierra Leone and South Africa. CFM’s next facility, Climate Investor Three, will target the energy transition and green hydrogen.
