Infrastructure manager EIG has secured $4bn (€3.4bn) for its direct lending strategy, exceeding its original $3bn fundraising target.
The capital includes $1.9bn raised at the final close of the EIG Senior Infrastructure Debt Fund VI (SIDF VI), which is nearly double the size of its predecessor, alongside $2.1bn raised via single-investor vehicles.
The strategy was backed by both new and existing institutional investors across North America, Europe, Asia-Pacific and the Middle East, including public and corporate pension funds, sovereign wealth funds, insurance companies, asset managers, endowments and foundations.
Launched in July 2024, SIDF VI targets directly originated, senior secured debt across energy and infrastructure assets, primarily in the US and Europe.
EIG said SIDF VI has already committed approximately $1bn across 16 investments.
R Blair Thomas, CEO of EIG, said: “We believe we are entering one of the most significant energy-related infrastructure investment cycles in decades.
“The strong support for SIDF VI demonstrates that investors increasingly recognise the critical role that private capital will play in financing the energy, power, and infrastructure systems underpinning modern economies.”
Andrew Ellenbogen, president of EIG and CEO of EIG credit management, said: “The combination of significant commitments to both the fund and our single investor vehicles, including evergreen structures, highlights investors’ desire for flexible ways to access the strategy.
“The pace of deployment since launch reflects both the breadth of investment opportunities we are seeing across energy and infrastructure and the strength of EIG’s origination platform, relationships and underwriting discipline.”
Rob Johnson, president and CIO of EIG Credit Management, said: “Energy demand growth, electrification and grid modernisation are converging to create a significant need for capital. In our view, this is creating a generational opportunity in infrastructure credit.
“As financing needs continue to grow and traditional capital providers become more constrained, private credit can play an increasingly important role in funding critical energy and infrastructure assets worldwide.”
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