First Reserve, a large, global private equity and infrastructure investment firm exclusively focused on energy, has closed its second energy infrastructure fund, First Reserve Energy Infrastructure Fund II LP (“FREIF II” or “the Fund”). Formally launched eight months ago, the fund was oversubscribed beyond its initial target of US$2 billion, ultimately closing at its US$2.5 billion hard cap. First Reserve now has over US$4 billion dedicated to investing in energy infrastructure opportunities.
The fund expects to continue to emphasize strategic joint ventures. To date, First Reserve Energy Infrastructure Fund I LP has formed exclusive partnerships on nearly all its portfolio investments.
Mark Florian, Managing Director and Head of Infrastructure added, “With a fully dedicated infrastructure investment team that has deepened substantially since the first Fund, we believe we remain well-positioned to continue generating attractive, proprietary opportunities. “