LS Power Equity Advisors LLC has closed a private equity fund with more than $2 billion in commitments.

The fund surpassed its initial $1.5 billion target, raising $2.075 billion. The fund, LS Power Equity Partners III LP, launched in July 2013. Investors included U.S. and European public and private pension plans, insurance companies, corporations, not-for-profit organizations, endowments, foundations, family offices and Asian and Middle Eastern sovereign wealth funds.

LS Power is a power company that develops, owns, operates and invests in power generation and electric transmission infrastructure in the U.S.

Evercore Private Funds Group served as placement agent, with Magenta Capital Services aiding in the Middle East and Asia. Kirkland & Ellis LLP provided legal advice.

The energy sector has garnered a lot of interest from the private equity side. Other recent fund closes include Intervale’s $495 million energy fund, and Pine Brook’s $2.43 billion energy fund.


Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.