First Reserve closes second energy infrastructure fund at US$2.5 billion

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
First Reserve closes second energy infrastructure fund at US$2.5 billion

First Reserve has announced the closing of its second energy infrastructure fund, First Reserve Energy Infrastructure Fund II, L.P (FREIP II).

Formally launched in November 2013, the fund was oversubscribed beyond its initial target of US$2 billion, ultimately closing at its US$2.5 billion hard cap. First Reserve now has over US$4 billion dedicated to investing in energy infrastructure opportunities.

FREIF II will continue to focus on long-lived energy infrastructure investments throughout the energy value chain, including contracted midstream, such as pipelines, storage and LNG facilities; contracted power, which includes both renewable and conventional generations; regulated transmission and distribution; and contracted energy assets including floating storage facilities and other essential large-scale energy infrastructure assets.

William Macaulay, Chairman and Chief Executive Officer of First Reserve, stated:

First Reserve initially launched an energy infrastructure investment program to enable our team to offer broader and more strategic solutions to both our wide network of corporate partners and our investors. We are thrilled at how the strategy has played out, meeting our expectations of delivering long-term contracted revenues. The success of this most recent fundraise is a testament to our investors’ belief in our investment model and the strong execution of our infrastructure investment team.

The fund expects to continue to emphasize strategic joint ventures, a format often used by First Reserve given its 30-year stature as an energy industry specialist. To date, First Reserve Energy Infrastructure Fund I, L.P. has been privileged to form exclusive partnerships on nearly all its portfolio investments, utilizing its in-house investment and asset management expertise to deliver ongoing yield to its LPs.

First Reserve is the largest global private equity and infrastructure investment firm exclusively focused on energy. With over 30 years of industry insight, investment expertise and operational excellence.

List of country news

Country news

  • June 19, 2014

    GIP sells Access Midstream Partners for $6 billion

    Global Infrastructure Partners II (GIP) has sold 50% general partner interest and 55.1 million limited partner units in Oklahoma city-based Access Midstream Partners L.P. to Williams. Read more
  • June 20, 2014

    SunEdison and Riverstone to partner in Silver Ridge Power joint venture

    SunEdison, Inc. has reached a definitive agreement to acquire a 50% ownership stake in Silver Ridge Power (SRP), LLC from a subsidiary of The AES Corporation. Read more
  • June 24, 2014

    Valero Energy Partners LP announces first asset acquisition

    Valero Energy Partners LP has approved the acquisition from subsidiaries of Valero Energy Corporation of the McKee Crude System, Three Rivers Crude System, and Wynnewood Products System for total consideration of US$154 million. Read more
  • June 26, 2014

    SunEdison and BlueWave Capital agree to 50 MW solar asset portfolio acquisition

    SunEdison, a solar technology manufacturer and solar energy services provider, and BlueWave Capital, LLC, a Boston, MA-based solar energy development company, announced last week that SunEdison has agreed to purchase 50 megawatts (MW) of solar photovoltaic (PV) projects from BlueWave Capital LLC, the largest acquisition of solar assets in Massachusetts history. Read more
  • June 26, 2014

    Brent Grundberg Appointed Principal of Oil and Gas Lending at EIC

    Energy and Infrastructure Capital LLC (EIC), an investment manager specializing in lending to companies in the global energy and infrastructure sectors, has hired P. Brent Grundberg to lead debt investments in the oil and gas sector. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.