PRINT THIS PAGE US ArcLight Capital Partners closes $1.6bn energy fund28/06/2004. Source: AltAssets. 
 US Arclight Capital Partners has announced the final close of its $1.6bn private equity fund. The fund will invest in cash flow generating assets in the coal, natural gas, power generation and electric and gas transmission and distribution industries.
More than 75 investors have committed capital to the fund, which was launched in October 2003. Almost all of the firm's existing investors, including the Caisse de depot et placement du Quebec and the University of Texas, have committed to the fund, as well as over 50 new institutional investors, including Adams Street Partners and the California Public Employees Retirement System.
'We were able to raise this fund relatively quickly because institutional investors are allocating a greater percentage of their alternative investment portfolios to hard assets, and recognise ArcLight's asset based approach to energy investing has produced strong results,' said Daniel Revers, ArcLight Captial Partners managing partner.
'Many institutional investors are trying to reduce their dependence on venture capital and buy-out funds and are increasingly turning to hard-asset plays including energy,' he added. 'With our deep energy investing experience, strong track record, and unique approach, ArcLight is well positioned to capitalise on this trend.'
Copyright © 2004 AltAssets
|
