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Energy Capital Partners closes third PE vehicle at USD5.043bn in capital commitments

Energy Capital Partners has held the final closing of Energy Capital Partners III at USD5.043bn in commitments, surpassing the fund's USD3.5bn target.

Energy Capital's total cumulative commitments are now in excess of USD13bn having raised Fund I at USD2.25bn in 2006, Fund II at USD4.335bn in 2010 and a mezzanine credit lending vehicle of USD805m in 2013 as well as co-investment capital participating in seven individual Energy Capital investments.
Fund III was launched in July 2013 and raised in eight months, attracting a diverse base of over 300 limited partner investors from North America, South America, Europe, Asia and the Middle East. The first close was held in late December, just three months before the fund's final close on 31 March.
The new fund has closed on its first investment, the acquisition of NESCO Holdings, a specialty equipment rental company to the electric utility industry.
Energy Capital focuses its private equity investments on control situations in the North American energy sector with a concentration in the power generation and the midstream oil and gas sectors.  The firm also focuses on related energy and environmental service and equipment businesses that are directly related to these two core areas of asset focus. The mezzanine debt fund focuses on the same energy sectors in providing highly customised lending solutions for middle market energy borrowers in support of their growth initiatives.

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