EIG Global Energy Partners (EIG) has announced the final close of Global Private Debt Fund (GPF IV), a continuation of the firm’s platform for energy and infrastructure credit and direct lending.
Launched in February 2015, GPF IV had a first closing in October 2015 and has completed five investments to date, including two full realizations. Funds raised from institutional investors domiciled outside of the US represent 68% of capital commitments, reflective of the global nature of EIG’s business.
With the closing of GPF IV, EIG continues its unique expertise in specialized direct lending to energy and energy-related infrastructure projects and companies on a global basis.
EIG CEO R. Blair Thomas said,
“We are pleased by the trust our limited partners and consultant partners have placed in us and grateful for their confidence at the close of GPF IV. This successful outcome is notable particularly in light of the 71% decline in the price of oil that occurred in the midst of fundraising and is a testament to EIG’s unique expertise in specialized direct lending across the energy value chain globally. With EIG’s deep origination platform, we believe that we are well-positioned to meet the continued demand for capital for energy infrastructure and to continue to fill the void left by traditional lenders operating under regulatory constraints. We believe that strong market fundamentals are encouraging additional investment, and with our seasoned team, track record and expansive global platform, EIG is poised to take advantage of the many opportunities that our market currently affords.”
EIG’s lead placement agent for GPF IV was Credit Suisse and legal counsel was Debevoise & Plimpton LLP.