Houston-based EIV Capital LLC, an energy-focused private equity firm, has closed its third fund at a hard cap of $450 million, beating its original $350 million target.
EIV Capital Fund III will focus on making growth equity investments mostly in the midstream energy.
Fund III launched in August 2016 and completed fundraising in four months.
In February 2015, EIV closed its second fund at $267 million. No information was available on the Fund II’s performance.
Champlain Advisors was the placement agent for Fund III while Latham & Watkins advised EIV Capital on the fund-closing.
Photo: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. Reuters/Richard Carson