ECP flagship raises another $6.8bn

Energy Capital Partners (ECP) earlier this month announced that it had capital commitments and co-investments for its flagship ECP Fund IV totaling $6.8 billion. Capital commitments totaled $3.3 billion, while 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 in 2018, officials said. Fund IV’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 energy and power sectors. Founded in 2005, ECP invests across both equity and credit infrastructure assets including environmental infrastructure and opportunistic energy situations emphasizing the transition to clean energy while avoiding the more volatile energy subsectors like exploration and production. Following this latest close, ECP’s commitments across all of its funds and co-investments now total more than $20 billion with limited partner investors from North America, Europe, Asia and the Middle East. In addition to its ownership position in Calpine, the fund also 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.

ECP flagship raises another $6.8bn

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