US energy-focused private equity firm EIV Capital has closed its second fund, smashing its $200m target.
The firm said Fund II had closed on $267m, over five-times larger than its previous vehicle, with limited partners including public and private pensions, fund of funds, consultants and family offices.
Earlier this year AltAssets reported that the fund was edging closer to hitting its target after raising $195m.
The fund follows the firm’s debut EIV Capital Fund which raised half of its $100m target in 2009, according to a SEC document.
However like its predecessor, Fund II will focus on growth investments mainly in midstream and related oil field service energy companies according to the EIV.
Huston-based EIV invests in businesses involved in the processing, transportation, storage or conversion of oil, natural gas and refined products, committing between $10m and $40m per transaction.
Earlier this month private equity firm Quantum Energy Partners launched its second oil and gas focused fund with $350m in committed capital.
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