Energy Capital Partners raises US$6.8bn for Fund IV and co-investment pools

Energy Capital Partners (ECP) has announced the closing of its flagship ECP Fund IV, with capital commitments of US$3.3 billion. ECP also raised an additional $3.5 billion for co-investment opportunities over the last two and a half years, the majority of which was for its landmark US$17 billion take-private acquisition of Calpine Corporation.

Fund IV will continue ECP's strategy of investing in infrastructure within the core sectors of natural gas power generation, renewables and storage solutions, midstream, and environmental infrastructure, while avoiding the upstream and E&P sectors.

With this Fund IV close, ECP's total commitments across all of its funds and co-investments now aggregate more than US$20 billion. ECP funds include more than 600 limited partner investors from North America, Europe, Asia, and the Middle East.

Fund IV already has completed four investments representing approximately $1.4 billion of equity commitments across each of ECP's core sectors. 

In power generation, the Fund has an ownership position in Calpine, North America'slargest generator of electricity from natural gas and geothermal resources with a fleet of 78 power plants totaling 26,000 MW of generating capacity, and no exposure to coal; in renewables and storage, the Fund owns Convergent Energy + Power, the leading independent developer of storage solutions in North America; in environmental infrastructure, the Fund owns the national environmental solutions provider Gopher Resources (battery recycling); and, in midstream, the Fund's Next Wave Energy Partners is facilitating the processing of abundant, low-cost natural gas liquids.