Value-add infrastructure investor ArcLight Capital Partners has reached final close for its ArcLight Infrastructure Partners Fund VIII with a $3.9bn (€3.3bn) in total commitments.
ArcLight said the fund was oversubscribed, exceeding the target capital commitment of $3bn by 30%. Total capital raised by ArcLight over the past 24 months, across all vehicles, surpassed $6bn, it added.
Dan Revers, founder and managing partner of ArcLight, said: “We are grateful to our partners’ support for what we do. Since the firm’s inception in 2001, ArcLight has maintained a strong and consistent focus on investing in electric power, renewables, strategic gas, and related infrastructure with a highly differentiated, value-added investment approach.
“As ArcLight celebrates its 25th year of investing, the successful close of Fund VIII underscores our differentiated approach, expanded capabilities and value proposition to its partners.”
Angelo Acconia, president and partner of ArcLight, said: “The ability to build, connect and operate critical infrastructure is becoming increasingly important to creating long-term alpha. Over the last five years, ArcLight has significantly reinvested in and expanded the firm’s infrastructure, team and resources to enable its continued evolution of leading with capability, expertise and partnership to create value.
“I believe our ability to act with the capabilities of a strategic [investor] sets us apart and provides a long-term “right to win” in the areas where we invest and substantial benefits for our valued partners.”
ArcLight has been investing and building electric infrastructure since 2001, and has owned, controlled and operated more than 70GW of power generation assets and 48,000 miles of electric and gas transmission infrastructure, collectively representing over $80bn of enterprise value.
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