Los Angeles-based TCW Group, an international asset management firm with more than USD150bn under management, has announced the closing of TCW Energy Partners, a company that will invest i
Los Angeles-based TCW Group, an international asset management firm with more than USD150bn under management, has announced the closing of TCW Energy Partners, a company that will invest in global energy and infrastructure assets.
The equity units will be listed on GSTrUE, an electronic platform for private placements. The offering priced at USD20 per unit and a total of 9.7 million units were sold representing USD194m of common equity. TCW Energy Partners intends to pursue a liquidity facility that will bring its total capitalisation to be some USD388m.
‘TCW Energy Partners provides TCW permanent capital to support the continued development of our market-leading franchise in energy and infrastructure,’ says the asset manager’s chief executive Robert Beyer.
‘We are committed to providing our clients with innovative products across our alternative investment platform. TCW Energy Partners represents an important continuation of these efforts in that it greatly expands the universe of investors that have access to private alternative investments in a more liquid format.’
R. Blair Thomas, head of TCW’s energy and infrastructure group and chairman and the fund’s chief executive, says: ‘Market fundamentals in energy and infrastructure are incredibly strong right now and TCW Energy Partners will be well positioned to capture attractive investment opportunities for our clients.
‘It is a testament to the strength of our franchise and the outlook for the sector that we were able to close this transaction successfully in the face of the strong headwinds impacting the financial markets generally.’
Founded in 1971, the TCW Group serves clients including US corporate and public pension plans, financial institutions, endowments and foundations as well as foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale Asset Management, which has a total of some USD500 billion under management.
TCW’s energy and infrastructure group is a leading provider of institutional capital to the energy sector, with more than USD8.6bn invested in more than 200 energy projects and companies in 23 countries. The group has a 25-year track record in the industry and operates from offices in Los Angeles, Houston, New York, London and Sydney.
