EIG Global Energy Partners has reported the successful final close of Energy Fund XVI, the firm's most recent flagship investment fund. Fund XVI is the largest fund in EIG's history, and it includes capital commitments from 150 limited partners from 18 countries. Institutional investors domiciled outside the US represent more than 40% of total capital commitments.
Launched in February with a target of $4.25 billion, Fund XVI had a first closing in May and reached its hard-cap of $6 billion (excluding affiliate investments) in connection with its final closing on Nov. 25.
Fund XVI will continue EIG's business of making hybrid debt and structured equity investments in energy and energy-related infrastructure companies and projects on a global basis. Including the new capital committed to Fund XVI, EIG has $16.1 billion under management, continuing its role as a specialist investor in the energy sector.