Energy Capital Partners has closed a fund with more than $5 billion in capital commitments.

The new fund, called Energy Capital Partners III LP, surpassed its original $3.5 billion target. The fund was launched last July. Energy Capital Partners III has already closed on its first investment – Nesco Holdings Inc., a specialty equipment rental company for the electric utility industry. 

Energy Capital has previously closed a $2.25 billion fund in 2006 and $4.3 billion fund in 2010, plus a mezzanine credit lending vehicle with $805 million.

The Short Hills, N.J. private equity firm focuses on making control investments in the North American energy Sector. The firm was founded in 2005 by Doug Kimmelman (pictured). 

UBS Securities LLC served as global placement agent for Fund III and Kirkland & Ellis LLP served as fund counsel.

Energy Capital is just one of several private equity firms that have closed energy-focused funds recently. In February, Intervale Capital closed a $495 million fundthat will focus on making lower middle-market investment in oilfield services companies in North American and Europe. Also in February, private equity firm Pine Brook closed a $2.43 billion fundthat will focus on financial services and energy investments. Post Oak Energy Capital, again in February, closed a $600 million fund that will invest in oil and gas companies. 

For more, see "3Qs With … Craig Jarchow, Pine Brook Partners." 

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