WASHINGTON, May 19 (Bernama-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.”