ECP related stories
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Energy Capital Partners invests $160 mln in FurieOil and gas company Furie Operating Alaska has closed $160 million in funding from Energy Capital Partners. According to the firm, the capital will be used for the natural gas project in the Cook Inlet.
Oxygen flows freely to sub-$1 billion fundsAt the peak of the last fundraising boom six years ago, sponsors had reason to feel like small potatoes if they were targeting anything less than $1 billion. Today, with fundraising soaring again, such firms are playing a far larger role in the market.
- PE-backed PLH acquires R.B. Hinkle
PLH Group, a portfolio company of Energy Capital Partners, said Tuesday that it has acquired R.B. Hinkle Construction. No financial terms were disclosed. Headquartered in Sterling, Virginia, R.B. Hinkle is a provider of underground utility infrastructure services across the Mid-Atlantic region.
- Florida commits close to $1 bln to alternatives
The Florida State Board of Administration committed $975 million to alternative investments in the first quarter, including $625 million to private equity, according to a summary provided by the retirement system.
Wealthy investors pack bigger punchWealthy investors are surging into the private equity market. Whether that signals a market top or just reflects another step in the market’s evolution remains a subject of debate.
- LACERS commits to Vista V, Energy Capital
The Los Angeles City Employees’ Retirement System committed $40 million each to Vista Equity Partners V and Energy Capital Partners III in a move to stick with two existing GPs in its $12 billion pension portfolio.
peHUB First ReadThis midweek morning find out how private equity fund terms have evolved, how much private equity funds benefit from debt-related tax shields, Energy Capital Partners closing Fund III and the latest personnel news for Atlas Venture.
- Energy Capital Partners hits $5 bln on Fund III
Energy Capital Partners topped off Energy Capital Partners III at $1.5 billion above its $3.5 billion target as the latest in a series of big energy funds, bringing the New Jersey firm’s total fundraising tally to $13 billion in eight years.
- Energy Capital busts through $3.5bn target
The New Jersey-based firm raised more than $5bn for its third flagship fund.
- Energy Capital Partners beats Fund III target on more than $5 bln
Energy Capital Partners has closed its third fund on just over $5 billion, beating its $3.5 billion targeting. Energy Capital Partners III launched in July 2013 and attracted 300 limited partners from North America, South America, Europe, Asia and the Middle East. Fund III has closed on its first investment, the acquisition of NESCO Holdings, a specialty equipment rental company. UBS worked as global placement agent on the fundraising.