EIG Global Energy Partners has held the final close of Energy Fund XVI, the firm's most recent flagship investment fund.
Fund XVI is the largest fund in EIG's history and includes capital commitments from 150 limited partners from 18 countries.
Institutional investors domiciled outside the US represent more than 40 per cent of total capital commitments.
Launched in February 2013 with a target of USD4.25bn, Fund XVI had a first closing in May 2013 and reached its hard-cap of USD6bn (excluding affiliate investments) in connection with its final closing on 25 November 2013.
Fund XVI will continue EIG's business of making hybrid debt and structured equity investments in energy and energy-related infrastructure companies and projects on a global basis. Including the new capital committed to Fund XVI, EIG has USD16.1bn under management.
"We're very grateful to have received such strong support from our limited partners and our consultant partners in this fundraising," says chief executive R Blair Thomas. "We believe that the strength of the fundamentals in the energy sector, our long track-record, global platform and seasoned team all contributed to the successful fundraising of Fund XVI. We've already invested approximately USD500m to complete development of the Açu Superport project in Brazil, a key piece of energy infrastructure related to the development and commercialisation of Brazil's massive offshore oil reserves, and we have a robust pipeline in most every part of the world in which we operate."
EIG's lead placement agent for Fund XVI was Credit Suisse and legal counsel was Debevoise & Plimpton.