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Energy Investors Funds adds investment professional to California office

Energy Investors Funds, a private equity fund manager that invests in the US energy and electric power sector, has appointed Scott Parkes as a senior associate in its Mill Valley, Californ

Energy Investors Funds, a private equity fund manager that invests in the US energy and electric power sector, has appointed Scott Parkes as a senior associate in its Mill Valley, California office, working with the firm’s investment and marketing teams.

Parkes joins EIF from ExxonMobil in Houston, where he spent three years in a variety of areas including corporate finance and investor relations. Previously he gained four years of energy and power investment banking experience at JP Morgan and McManus & Miles in New York.

Parkes is the third new hire by Energy Investors Funds following the recent closing of the firm’s seventh and largest institutional fund to date, the United States Power Fund III, with USD1.35bn in commitments.

‘Over the past two decades, EIF’s cumulative success can be attributed to the tremendous effort and remarkable achievements of our EIF professionals,’ says John Buehler, a managing partner in EIF’s office in Mill Valley, which is just outside San Francisco. ‘We’re pleased to welcome Scott to the team.’

Energy Investors Funds was founded in 1987 as a private equity fund manager dedicated exclusively to the independent power and electric utility industry. Its investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation.

The investment manager says it seeks to mitigate commodity risk on fuel and electricity by focusing primarily on acquiring power assets with long-term off-take contracts. Energy Investors Funds has mobilised more than USD3.3bn in capital, and currently manages six private equity funds from its offices in Boston, New York, and San Francisco. The funds have made more than 90 investments with a combined underlying asset value exceeding USD5bn

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