KUALA LUMPUR, May 19 -- EIG Global Energy Partners (EIG), a leading institutional investor to the global energy sector has announced the successful final close of EIG Global Project Fund V (GPF V or the Fund) with total commitments of US$1.1 billion, nearly 50 per cent higher than the Fund’s US$750 million target. (US$1 = RM4.344)
EIG also raised an additional US$1.5 billion of commitments in the form of separately managed accounts that will invest alongside GPF V. In total, since the first closing of GPF V in July 2019, EIG has raised US$2.6 billion of commitments for its direct lending strategy.
GPF V is a continuation of EIG’s platform for energy and infrastructure direct lending that invests across the full energy, midstream, power, renewable energy and infrastructure complex on a global basis.
According to a statement, more than 70 per cent of the strategy’s capital commitments are from investors domiciled outside of the United States, reflective of the global nature of EIG’s business.
“Our fundraising success in the current environment is a strong testament to our investors’ enduring trust in our ability to identify and execute on attractive opportunities across the global energy and infrastructure value chain,” said EIG Chief Executive Officer, R. Blair Thomas.
EIG’s placement agent for GPF V was Credit Suisse; Kirkland & Ellis served as legal counsel. More details at www.eigpartners.com.
-- BERNAMA
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