LS Power Equity Advisors, together with its affiliate LS Power, announced the final close of LS Power Equity Partners IV at $2.25 billion, exceeding its initial target of $2 billion.
LS Power Equity Advisors is a U.S. power and energy infrastructure investment manager that has raised $8.59 billion in equity commitments across its four private equity funds. Its focus is to acquire operating power generation and related energy infrastructure assets.
Evercore Private Funds Group acted as the global placement agent for the fundraise with Magenta Capital Services supporting the effort in the Middle East and Asia. Kirkland & Ellis served as legal adviser.
Fund IV launched in late September 2017 and held its first close in December 2017 on $1.5 billion. Fund IV attracted commitments from a globally diverse group of returning and new investors to LS Power, including U.S., European, Middle Eastern and Asian public and private pension plans, insurance companies, corporations, not-for-profit organizations, endowments, foundations, family offices and sovereign wealth funds.
