The North Carolina Treasury has approved a $300 million follow-on commitment to EIG Energy Fund XVII, an energy infrastructure fund managed by EIG Global Energy Partners.
The energy-focused fund launched in 2017. As of August 2018, it had raised $672 million in capital commitments.
EIG Global Energy Partners’ energy funds target directly negotiated private transactions with mid- and large-cap energy companies and projects with an emphasis on transactions underpinned by hard assets, such as proven oil and gas reserves, pipelines, gathering systems, processing facilities, liquefied natural gas terminals, power plants, alternative energy, and similar opportunities.
The $102 billion North Carolina pension fund also committed $250 million to the fund’s predecessor. The fund’s predecessor, EIG Energy Fund XVI, raised $6 billion upon its final close in 2013, exceeding its $4.25 billion fundraising target.
North Carolina was unable to comment on its investment efforts.
