The Virginia Retirement System (VRS) has committed $150 million to EQT Energy Transition Infrastructure and $200 million to LS Power Equity Partners VI.
EQT Energy Transition Fund, a vehicle of EQT, is a closed-end fund aiming to raise €1.5 billion ($1.7 billion) in equity. This strategy directs investments to energy transition infrastructure, including electrification, electric vehicle charging, electric heat pumps and recycling and battery storage across North America, Europe and Asia Pacific.
LS Power Equity Partners VI, a closed-end vehicle of LS Power, targets power generation and transmission infrastructure assets in North America, specifically gas-fired generation, renewable power, storage and development, distributed energy, electrification infrastructure and renewable fuels. The fund aims to raise $4 billion in equity. LS Power Equity Partners V, its predecessor, raised $2.7 billion in total equity, oversubscribed from its initial target of $2.5 billion.
