EIV Capital LLC said Thursday it had completed a capital raise to launch two oil and gas investment funds, attracting a total of around $1.1 billion.
One of the new funds, EIV Capital Fund V LP, “will continue EIV Capital’s established strategy of making equity investments primarily in energy infrastructure businesses, including the gathering, processing, transportation, storage and marketing of oil, natural gas and refined products”, the private equity firm said in a press release.
“Fund V focuses on value-add initiatives for our midstream customers while addressing a growing need for last-mile solutions for natural gas and power as reindustrialization and data center requirements continue to accelerate”, said EIV Capital managing partner David Finan. Finan and Patti Melcher, also a managing partner at EIV Capital, will lead Fund V.
The other fund, EIV Resources II LP, will focus on acquiring non-operating stakes in wells in the contiguous United States, EIV Capital said.
“We invest behind proven operators in both producing and undeveloped oil and gas assets”, said Claire Harvey, partner at EIV Capital who will lead Resources II.
The two funds “bring total committed capital under management to approximately $3 billion”, Houston, Texas-based EIV Capital said.
“Both funds received strong commitments from a diverse base of institutional investors, including pension funds, insurance companies, endowments, foundations, family offices, and asset managers”, it said.
In energy infrastructure, EIV Capital’s current portfolio, according to its website, includes Bayou Midstream II, launched 2024 to acquire, develop and operate midstream facilities across the continental U.S.
EIV Capital also owns full-service midstream players Canes Midstream and Intensity Infrastructure Partners, formed 2019 and 2023 respectively.
Fullstream Energy, launched 2016, owns and operates a natural gas pipeline and compressor station in Harrison County, West Virginia.
Another EIV Capital midstream company, Penrose Midstream Partners, was launched 2022.
EIV Capital also owns Vivid Energy (d.b.a. Enersponse), specializing in automated grid demand response solutions. Enersponse was launched 2020.
Meanwhile EIV Capital’s “energy value chain” portfolio includes EIV Resources, launched 2021. “EIV Resources provides customized capital solutions to oil and gas producers and invests in passive oil and gas interests across the United States including non-operated working interests, producing and non-producing mineral interests, royalty interests and other similar investments”, EIV Capital says on its website.
EIV Capital also owns Atlas Pressure Control, launched 2019 as a wellhead, frac rental and field service company.
The “energy value chain” portfolio also includes CAM Integrated Solutions, an engineering, procurement and construction management company covering upstream, midstream and renewables projects.
EIV Capital also does business in emissions management and renewable energy through seven portfolio companies.
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