Friday, 1 July 2016
Last updated 11 hours ago
Jul 10 2007 | 10:14am ET
Energy Investors Funds, a private equity shop focusing on the energy and electric power sector, has closed its seventh institutional fund with $1.35 billion in commitments.
Investors in the United States Power Fund III include Contra Costa County (Calif.) Employees Retirement Association, John Hancock Life Insurance Company, and the University of Toronto Endowment Fund and Pension Plan.
USPF III, like its predecessor funds, will acquire U.S. power and energy generation and transmission assets.
“Our investment philosophy is as relevant today as any time in our history, due to the rising energy costs and increased demand for electricity, which calls for the construction of efficient, low-emission power assets,” said Herb Magid, managing partner.
“We will continue to invest across the spectrum of power assets, including assets that are in the development stage as well as facilities that are under construction or already in operation to create a portfolio of geographically and technologically diversified assets.”
Energy Investors Funds was founded in 1987 and currently manages six private equity funds.