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Laxman Pai, Opalesque Asia: Washington D.C-headquartered EIG Global Energy Partners closed on its $1.1 billion EIG Global Project Fund V, exceeding its $750 million fundraising target.
The institutional investor to the global energy sector also raised an additional $1.5 billion in separately managed accounts that will invest alongside GPF V.
In total, since the first closing of GPF V in July 2019, EIG has raised $2.6 billion of commitments for its direct lending strategy.
EIG, with $22.4 billion under management, said in a press release that the new fund and separately managed accounts aim to make global investments in energy, midstream, power, renewable energy, and infrastructure.
"The fund is aiming to invest in opportunities in the global transition from traditional hydrocarbon fuels toward more sustainable energy production," it said.
More than 70% of the strategy's capital commitments are from investors domiciled outside of the U.S., reflective of the global nature of EIG's business.
EIG CEO R. Blair Thomas said, "We are pleased to close GPF V with continued support from our sophisticated global investor base. Our fundraising success in the current environment is a strong testament to our investors' enduring trust in our ability to identify and execute on attractive opportunities across the global energy and infrastructure value chain."
Investors in the fund include the Florida State Board of Administration, Tallahassee, which oversees a total o...................... To view our full article Click here
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