Energy Capital Partners, a leading investor in energy transition and decarbonisation infrastructure assets, has announced the successful closing of its fifth flagship equity strategy, ECP V (Fund V), with a total capital commitment of $4.4 billion. This exceeds the initial target of $4.0 billion by 10 percent, and an additional $2.3 billion of co-investment capital was also raised, indicating strong support for ECP’s equity strategy.
Fund V will continue ECP’s investment strategy of transforming promising companies in power generation, renewable and storage assets, and critical sustainability and decarbonisation infrastructure. ECP recently announced the take-private of Atlantica Sustainable Infrastructure, a diversified renewable and power platform with assets primarily in the US and Europe. This marks Fund V’s eighth investment in the past two years, totaling approximately $2.2 billion of committed capital ($4.4 billion including co-investment). Fund V has also executed the take-private of Biffa, a leading UK-based waste management business, and invested in Harvestone, a biofuels platform with a carbon capture project.
Doug Kimmelman, founder and senior partner of ECP, attributes the firm’s success to its proven strategy and the growing demand for reliable and clean energy. He notes that the electricity sector is becoming a major growth area globally, driven by factors such as data centers, electric vehicles, and electrification. Kimmelman emphasizes that ECP is well positioned to capitalise on these opportunities and create value for investors.
Emily Zovko, head of investor services and managing director at ECP, highlights the milestone achieved with the closing of Fund V and acknowledges the support and confidence from investors worldwide. She notes that ECP’s focused efforts on electrification, decarbonisation, reliability, and sustainability have been central to the firm’s success over the past 19 years.
Fund V received commitments from a diverse range of global investors, including public and private pensions, insurance companies, asset managers, and family offices.
Kirkland & Ellis served as fund formation counsel to ECP during the closing of Fund V.
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