LS Power Closes Funding Round With $6 Billion in Commitments

Energy infrastructure developer and investor LS Power said it has successfully closed the LS Power Equity Partners VI (Fund VI) with total fund commitments of about $6 billion.

Fund VI, which was launched in January of this year, was oversubscribed and fully allocated against its hard cap by July, which was well in excess of […] The post LS Power Closes Funding Round With $6 Billion in Commitments appeared first on POWER Magazine .

Search Sign In Home Finance LS Power Closes Funding Round With $6 Billion in Commitments Finance LS Power Closes Funding Round With $6 Billion in Commitments Press Release Energy infrastructure developer and investor LS Power said it has successfully closed the LS Power Equity Partners VI (Fund VI) with total fund commitments of about $6 billion.

Fund VI, which was launched in January of this year, was oversubscribed and fully allocated against its hard cap by July, which was well in excess of its initial $4-billion target, the company said on October 6.

Investor demand was driven by LS Power’s longstanding track record of delivering attractive realized returns across multiple market cycles.

Fund VI will invest in assets, platforms, and companies in the renewables, conventional generation, energy storage, distributed energy resources, and other critical energy infrastructure spaces.

The fund is already being deployed, with a commitment of about $1.7 billion for investments associated with LS Power’s pending acquisitions of what will form a 5-GW platform of natural gas-fired generation assets from Constellation Energy across the Mid-Atlantic (PJM) and Texas (ERCOT) power markets.

“This fundraise is a strong endorsement of the team, strategy, and platform we have built at LS Power over more than three decades,” said Paul Segal, CEO of LS Power.

“Our approach has always been to anticipate the evolving needs of the U.S.

power and energy system and invest behind them with discipline.

Fund VI gives us greater capacity to pursue those opportunities while maintaining the selectivity that has guided us over the years.” Search Sign In Home Finance LS Power Closes Funding Round With $6 Billion in Commitments Finance LS Power Closes Funding Round With $6 Billion in Commitments Press Release Energy infrastructure developer and investor LS Power said it has successfully closed the LS Power Equity Partners VI (Fund VI) with total fund commitments of about $6 billion.

Fund VI, which was launched in January of this year, was oversubscribed and fully allocated against its hard cap by July, which was well in excess of its initial $4-billion target, the company said on October 6.

Investor demand was driven by LS Power’s longstanding track record of delivering attractive realized returns across multiple market cycles.

Fund VI will invest in assets, platforms, and companies in the renewables, conventional generation, energy storage, distributed energy resources, and other critical energy infrastructure spaces.

The fund is already being deployed, with a commitment of about $1.7 billion for investments associated with LS Power’s pending acquisitions of what will form a 5-GW platform of natural gas-fired generation assets from Constellation Energy across the Mid-Atlantic (PJM) and Texas (ERCOT) power markets.

“This fundraise is a strong endorsement of the team, strategy, and platform we have built at LS Power over more than three decades,” said Paul Segal, CEO of LS Power.

“Our approach has always been to anticipate the evolving needs of the U.S.

power and energy system and invest behind them with discipline.

Fund VI gives us greater capacity to pursue those opportunities while maintaining the selectivity that has guided us over the years.” “Meeting America’s growing need for reliable, affordable power requires more than capital,” said Darpan Kapadia, COO of LS Power.