EIG Global Energy Partners has held a final close of its Energy Fund XV with $4.12 billion. The fund, which hit a hard cap of $4 billion in April, includes capital commitments from 187 limited partners from 13 countries, the firm said in a written release. EIG specializes in private investments in energy, energy-related infrastructure and resources, and was formerly the Energy & Infrastructure Group of Trust Company of the West.
EIG Global Energy Partners (EIG), today announced the successful final close of Energy Fund XV (Fund XV), the firm’s most recent flagship investment fund. Fund XV is the largest fund in EIG’s history and includes capital commitments from 187 limited partners from 13 countries. Institutional investors domiciled outside the U.S. represent 45% of total capital commitments. Launched in February 2010 with a target of $2.5 billion, Fund XV had a first closing in June 2010 and hit the hard-cap of $4 billion (excluding affiliate investments) in April 2011, several months prior to the end of the prescribed marketing period. Fund XV will continue EIG’s business of making mezzanine and private equity investments in energy, energy-related infrastructure and resource companies and projects on a global basis.
With the closing of Fund XV, EIG has $9.6 billion under management, continuing its role as one of the leading specialist investors in the energy sector. “In what can only be described as a difficult capital raising environment we’re very grateful to have received such strong support from our clients,” said CEO R. Blair Thomas. “The fundamentals in energy are strong and having a long track-record, global platform, seasoned team and providing a natural hedge against inflation all contributed to the success of Fund XV. We’ve already invested $560 million in three transactions and have a robust pipeline in most every part of the world in which we operate.”
EIG specializes in private investments in energy, energy-related infrastructure and resources and was formerly the Energy & Infrastructure Group of Trust Company of the West.
During its 29-year history, EIG has invested over $11 billion in the sector through more than 260 projects or companies in 33 countries on 6 continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, DC, with offices in Houston, New York, London, and Sydney.
EIG’s lead placement agent for Fund XV was Credit Suisse and legal counsel was Debevoise & Plimpton LLP.
SOURCE EIG Global Energy Partners, LLC