Hull Street Energy has raised $1.13bn (€976.3bn) for its latest North American power generation infrastructure fund.

The energy transition investment firm said the Hull Street Energy Partners II fund – which closed at its hard cap – received interest from a diverse group of institutional investors, including endowments, foundations, insurers, pension plans, funds of funds and family offices.

Late last year, IPE Real Assets reported that the Texas Municipal Retirement System had backed the fund with a $150m commitment.

Hull Street Energy targets undermanaged middle-market electricity businesses. The manager said the predecessor fund is fully deployed, having acquired a portfolio of hydroelectric assets, thermal power plants, and solar projects throughout the US.

In January this year, the second fund made its inaugural capital commitment to battery energy solutions service company SunGrid Solutions, the manager said.

Eaton Partners served as global placement agent for the latest fund and DLA Piper served as fund counsel.

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