Launched eight months ago, the First Reserve Energy Infrastructure Fund II was set an initial target of $2bn, however, it was oversubscribed. First Reserve currently has over $4bn to invest in energy infrastructure opportunities.
First Reserve chairman and CEO William Macaulay said the company initially launched an energy infrastructure investment program to enable its team to offer broader and more strategic solutions to both network of corporate partners and investors.
"We are thrilled at how the strategy has played out, meeting our expectations of delivering long-term contracted revenues. The success of this most recent fundraise is a testament to our investors’ belief in our investment model and the strong execution of our infrastructure investment team," added Macaulay.
FREIF II will focus on long-lived energy infrastructure investments across energy value chain that includes contracted midstream, contracted power, regulated transmission and distribution and contracted energy assets.
First Reserve Infrastructure head and managing director and head Mark Florian said, "With a fully dedicated infrastructure investment team that has deepened substantially since the first Fund, we believe we remain well-positioned to continue generating attractive, proprietary opportunities."
