Pioneer Point Partners LLP has announced that it closed its maiden institutional fund. The fund is worth €575 million ($640.9m). The fund exceeded the company’s initial target of €500 million ($557m). Pioneer Point Partners attracted investments from 15 North American and European institutional investors, including family offices, insurance companies, endowments, pension funds, and financial institutions. 

According to the company, the investment will be diversified into a portfolio of up to 10 investments. The firm was advised on the funds by Cotton Ginsberg Capital Partners as placement agent. Fried Frank also acted as legal counsel on the deal. Pioneer Point was founded in 2008, focusing on environmental infrastructure and energy transition.