Short Hills, N.J.- and San Diego-based private equity firm Energy Capital Partners has closed its first fund at $2.25 billion, well over its target of $1.5 billion, according to the firm.
Energy Capital Partners I will invest in North American power and energy infrastructure, especially power generation, electric transmission, and gas storage and pipelines. The fund made its first investment, the $1.34 billion acquisition of NE Energy, last month.
An estimated 150 LP investors provided commitments to the fund from public and corporate pension funds, college and university endowments, foundations, banks and insurance companies, portfolio managers, family offices and individuals. Some 25% of the fund’s commitments came from non-US domiciled investors, according to the firm.
Founded in May 2005, ECP is led by a team of six partners – Doug Kimmelman, Scott
Helm, Peter Labbat, Tom Lane, Andrew Singer and Sarah Wright – who worked together
from platforms including Goldman, Sachs & Co., Constellation Energy Commodities
Group, Orion Power and Latham & Watkins LLP.