EIG Global Energy Partners has raised $1.1 billion for its EIG Global Project Fund V (GPF V) in a final close, surpassing its fundraising target of $750 million.
EIG also raised an additional $1.5 billion of commitments in the form of separately managed accounts that will invest alongside GPF V.
In total, EIG has raised $2.6 billion of commitments for its direct lending strategy since GPF V held its first close in July 2019. More than 70 percent of the strategy’s capital commitments are from investors domiciled outside of the United States.
EIG president Randy Wade noted the fund is seeking opportunities in the global transition away from traditional hydrocarbons toward more sustainable energy production.
Like the others in the fund strategy, GPF V will invest across the full energy, midstream, power, renewable energy and infrastructure complex on a global basis.
“Our fundraising success in the current environment is a strong testament to our i
