Private equity firm EIG Global Energy Partners has reportedly capped its latest energy fund on $6bn, which would make it one of the largest private equity vehicles focused on the sector.
The firm put the $6bn limit on its EIG Energy Fund XVI in response to requests from LPs, who didn’t want a larger vehicle, said Bloomberg, citing two people with knowledge of the matter.
EIG expects to close the fund before the end of the month after holding a $4bn closing last week, said the sources.
The firm, which spun out of asset manager and Carlyle buyout target TCW in January 2011, launched the fund with a $4.25bn target early in 2013.
Energy Fund XVI is expected to focus on mezzanine and private equity investments in energy, infrastructure and natural resources businesses globally.
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