EIG Global Energy Partners (EIG), has announced the successful final close of Energy Fund XV (Fund XV), the firm’s most recent flagship investment fund.
Fund XV is the largest fund in EIG’s history and includes capital commitments from 187 limited partners from 13 countries. Institutional investors domiciled outside the US represent 45% of total capital commitments.
Launched in February 2010 with a target of USD2.5 billion, Fund XV had a first closing in June 2010 and hit the hard-cap of USD4 billion (excluding affiliate investments) in April 2011, several months prior to the end of the prescribed marketing period. Fund XV will continue EIG’s business of making mezzanine and private equity investments in energy, energy-related infrastructure and resource companies and projects on a global basis.
With the closing of Fund XV, EIG has USD9.6 billion under management, continuing its role as one of the leading specialist investors in the energy sector.
"In what can only be described as a difficult capital raising environment we’re very grateful to have received such strong support from our clients," says CEO R Blair Thomas (pictured). "The fundamentals in energy are strong and having a long track-record, global platform, seasoned team and providing a natural hedge against inflation all contributed to the success of Fund XV. We’ve already invested USD560 million in three transactions and have a robust pipeline in most every part of the world in which we operate."
