Energy Capital Partners Raises $6.8 Billion for Fund IV and Co-investment Pools
Jan 21, 2020
Energy Capital Partners (ECP) today announced the closing of its flagship ECP Fund IV ("Fund IV" or the "Fund"), with capital commitments of $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 $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 $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's largest 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.
Energy Capital Partners, founded in 2005, is a North American-focused investor across both equity and credit infrastructure assets, including natural gas power generation, renewables and storage solutions, midstream, environmental infrastructure and opportunistic energy situations emphasizing the transition to clean energy while avoiding the more volatile energy subsectors like exploration and production. The ECP team, comprised of 61 people with 600 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value.
ECP Investor Relations: Paul Parshley (973) 671-6106 and Alexis DiFazio (973) 671-6143
ECP Media Relations: Kekst CNC, Kimberly Kriger (212) 521-4800 / firstname.lastname@example.org