NEWS & INSIGHTS
EIG Holds Final Closing of Energy Fund XVI: $6 billion raised in latest EIG flagship Energy Fund
WASHINGTON, DC, December 2, 2013 — EIG Global Energy Partners (EIG) today announced the successful final close of Energy Fund XVI (Fund XVI), the firm’s most recent flagship investment fund. Fund XVI is the largest fund in EIG’s history and includes capital commitments from 150 limited partners from 18 countries. Institutional investors domiciled outside the U.S. represent more than 40% of total capital commitments. Launched in February 2013 with a target of $4.25 billion, Fund XVI had a first closing in May 2013 and reached its hard-cap of $6 billion (excluding affiliate investments) in connection with its final closing on November 25, 2013. Fund XVI will continue EIG’s business of making hybrid debt and structured equity investments in energy and energy-related infrastructure companies and projects on a global basis. Including the new capital committed to Fund XVI, EIG has $16.1 billion under management, continuing its role as one of the leading specialist investors in the energy sector.
“We’re very grateful to have received such strong support from our limited partners and our consultant partners in this fundraising,” said CEO R. Blair Thomas. “We believe that the strength of the fundamentals in the energy sector, our long track-record, global platform and seasoned team all contributed to the successful fundraising of Fund XVI. We’ve already invested approximately $500 million to complete development of the Açu Superport project in Brazil, a key piece of energy infrastructure related to the development and commercialization of Brazil’s massive offshore oil reserves, and we have a robust pipeline in most every part of the world in which we operate.”
EIG’s lead placement agent for Fund XVI was Credit Suisse and legal counsel was Debevoise & Plimpton LLP.
About EIG
EIG specializes in private investments in energy and energy-related infrastructure companies and projects on a global basis. During its 31-year history, EIG has invested over $15.7 billion in the sector through more than 290 projects or companies in 34 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C, with offices in Houston, London, Sydney, Rio de Janiero, Hong Kong and Seoul.
For more information, visit www.eigpartners.com or contact Allison Oyster at APCO Worldwide at 202-478-3808 or aoyster@apcoworldwide.com.
Contact
Allison Oyster
aoyster@apcworldwide.com
202-478-3808