Market-Leading Platform Focused on Senior Loans
WASHINGTON-Tuesday 19 May 2020 [ AETOS Wire ]
(BUSINESS WIRE)--
EIG Global Energy Partners (EIG) announced today the successful final
close of EIG Global Project Fund V (GPF V or the Fund) with total
commitments of $1.1 billion, nearly 50% higher than the Fund’s $750
million target. EIG also raised an additional $1.5 billion of
commitments in the form of separately managed accounts that will invest
alongside GPF V. In total, since the first closing of GPF V in July
2019, EIG has raised $2.6 billion of commitments for its direct lending
strategy. GPF V is a continuation of EIG’s platform for energy and
infrastructure direct lending that invests across the full energy,
midstream, power, renewable energy and infrastructure complex on a
global basis. More than 70% of the strategy’s capital commitments are
from investors domiciled outside of the U.S., reflective of the global
nature of EIG’s business.
EIG CEO R.
Blair Thomas said, “We are pleased to close GPF V with continued support
from our sophisticated global investor base. Our fundraising success in
the current environment is a strong testament to our investors’
enduring trust in our ability to identify and execute on attractive
opportunities across the global energy and infrastructure value chain.
Capital is oxygen to the energy industry, and GPF V is poised to help
meet the robust capital demand for energy and infrastructure projects.
In a time of tremendous upheaval, our proven capital-raising and
origination capabilities and our global platform position us well for
the future.”
EIG President
Randy Wade said, “GPF V allows EIG to build on our 20-year track record
in direct lending. With demand for capital high and many traditional
sources of capital retreating, the Fund is seeking opportunities in the
global transition away from traditional hydrocarbons toward more
sustainable energy production. We believe our specialized approach and
disciplined underwriting with a focus on sector diversity should
position us to continue to generate strong returns through market
cycles.”
EIG’s placement agent for GPF V was Credit Suisse; Kirkland & Ellis served as legal counsel.
About EIG Global Energy Partners
EIG Global
Energy Partners (EIG) is a leading institutional investor to the global
energy sector with $22.4 billion under management as of March 31, 2020.
EIG specializes in private investments in energy and energy-related
infrastructure on a global basis. During its 38-year history, EIG has
committed over $33.7 billion to the energy sector through 360 projects
or companies in 36 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 Janeiro, Hong Kong and Seoul. For additional information,
please visit EIG’s website at www.eigpartners.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200518005102/en/
Contacts
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
EIG-SVC@sardverb.com
