ArcLight Capital closes sixth fund at $5.6 bln

Boston-based ArcLight Capital Partners has raised $5.575 for its sixth fund, beating its $4 billion target, the firm announced today.

The fund’s hard cap was $5 billion.

ArcLight Energy Partners VI LP will focus on the North American energy infrastructure sector. The fund’s limited partners were not disclosed.

The firm closed its previous fund at $3.3 billion in 2011, generating an average IRR of 11.53 percent and an average multiple of 1.18x as of December 31, 2014, according to data provider Bison.  Arclight Energy Partners Fund V’s limited partners were Maine Public Employees Retirement System, Colorado PERA and Montana Board of Investments.

Founded in 2001, ArcLight’s leadership team includes managing partner and co-founder Daniel R. Revers and senior partner and co-founder Robb E. Turner.

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