Energy Capital has held the final close of Energy Capital Partners II, a private equity fund focused on the acquisition, development and construction of North American energy infrastructure assets.
The fund will primarily invest in assets in the fossil and renewable power generation, electric transmission and midstream gas sectors.
Doug Kimmelman, Energy Capital’s senior partner, says: "We are appreciative of the support and trust of our many limited partners and we look forward to providing attractive investment returns across an energy landscape with accelerating capital demands."
Fund II has made several investments to date, including the completed acquisition of three natural gas-fired power generating facilities in New England, a 100-mile gas gathering pipeline system under construction in the Barnett Shale region in Texas, an electric transmission line under development in Southern California and an operating business providing electrical infrastructure construction and maintenance services.
The fund exceeded its USD3.5bn target capital raise amount and completed the final close at the capped amount of USD4.335bn, which includes capital committed from the partners and employees of Energy Capital Partners.
Kirkland & Ellis served as fund counsel and Park Hill Group acted as placement agent for the fund.