EIV Capital Aims for $1B Energy Infrastructure Vehicle 

EIV Capital, a Houston-based energy-focused private equity firm, is setting its sights on a $1 billion haul with the launch of its fifth flagship investment vehicle, which comes a year after the firm raised over $700 million for its fourth fund. 

It closed its third fund in 2017 with a $450 million hard cap, easily surpassing its $350 million target. 

EIV’s most recent fund has targeted growth equity investments in energy infrastructure and specialist renewable energy industries, as well as opportunistic investments in other segments of the energy value chain. 

Recent deals have included Penrose Midstream Partners, which is focused on acquiring and developing natural gas, natural gas liquids and crude oil midstream infrastructure in basins throughout North America. 

The firm typically invests between $20 million and $100 million per transaction. EIV, a long-time investor in the oil and gas industry, has also recently made deals in emissions management and renewable energy. 

Kimmeridge, an energy-focused alternatives manager, raised more than $1 billion earlier this month for its sixth flagship oil and gas investment fund. The new fund is one of the few North American oil and gas funds that have closed on more than $1 billion in the last five years, and it is 25% larger than the firm’s fifth fund, which closed in 2019.