Energy-focused EIV Capital has held a final closing of its second fund, EIV Capital Fund II, LP, with total committed capital of $267 million, beating the fund’s $200 million target. All limited partners from the firm’s first fund participated in Fund II. Fundraising began in June 2014.
Fund II limited partners include the normal combination of institutional investors including public and private pensions, fund of funds, consultants and family offices.
“Our inaugural fund’s strong performance and the continued support from our initial partners provided EIV with the momentum it needed to have such a successful fundraise,” said Patti Melcher, Managing Director of EIV. “We are tremendously excited and grateful for our new partners’ support and believe the current investment environment will leverage our team’s operating and financial expertise to identify and capitalize on opportunities to partner with great management teams seeking to grow through this cycle.”
Fund II invests from $10 million to $40 million of growth equity per transaction in three areas: (i) Midstream – infrastructure projects focused on gathering, processing, distribution, storage and marketing of oil, natural gas and refined products; (ii) Related Services – crude oil trucking, equipment leasing, oilfield water handling, and flare management; and (iii) Expanded Natural Gas Uses – small scale natural gas fired cogeneration projects, LNG as a transportation fuel and landfill gas recovery.
New York-based Champlain Advisors (www.champlainadvisors.com) was the exclusive placement agent for Fund II. “EIV’s track record and midstream operating background attracted a top-tier list of sophisticated investors for its first-time institutional fund in a process that took less than 6 months” said Terry Crikelair, Managing Partner of Champlain Advisors.
EIV Capital was founded in 2009 and is headquartered in Houston (www.eivcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-5-15