EIV Capital raises $450m

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EIV Capital has raised $450 million for its EIV Capital Fund III. The Houston-headquartered firm began fundraising in 2016 with a $350 million target.

Its previous fund raised $267 million in 2015.

Investors that committed to EIV Capital Fund III include the City of Philadelphia Board of Pensions & Investment and the New York State Teachers' Retirement System.

The fund will target growth equity opportunities in midstream energy and other energy sectors in North America.