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Energy Capital sweeps up $6.8bn for its latest flagship fund and parallel co-investment pools

Wednesday, January 22, 2020

Laxman Pai, Opalesque Asia:

New Jersey-based energy infrastructure specialist Energy Capital Partners (ECP) has amassed $6.8 billion for its latest flagship fund and parallel co-investment pools targeting power plants and other energy-infrastructure assets, despite tepid interest from U.S. investors.

"The private equity firm is nearing the final close of Energy Capital Partners IV LP with $3.3 billion in capital commitments from about 125 investors," said senior partner and founder Doug Kimmelman.

ECP also raised an additional $3.5 billion for co-investment opportunities over the last two and a half years, the majority of which was for its landmark $17 billion take-private acquisition of Calpine Corporation.

According to a press note from the North American-focused investor across both equity and credit infrastructure assets, the funds will reportedly be used to back power plants and energy infrastructure.

Founded in 2005, Energy Capital targets companies in the North American power generation, midstream gas, electric transmission, energy and environmental sectors.

With this Fund IV close, ECP's total commitments across all of its funds and co-investments now aggregate more than $20 billion. ECP funds include more than 600 limited partner investors from North America, Europe, Asia and the Middle East.

Fund IV already has completed four investments representing approximately $1.4 billion of equity commitments across each of ECP's core sectors. ......................

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