US power infrastructure manager LS Power has so far raised over 90% of its $2.5bn (€2.3bn) fundraising target for its latest fund.
The manager disclosed in a board meeting presentation for the Alaska Permanent Fund Corporation that commitments to its LS Power Equity Partners V had reached $2.3bn.
LS Power raised $2.25bn for its fourth private equity fund back in 2018.
The fifth private equity fund, which invests in power generation and energy transition sectors, has secured a joint venture with Monarch Energy for utility-scale green hydrogen development.
Partners V was launched in the fourth quarter of 2023.
The fund’s investment strategy includes renewable energy, distributed resources and conventional gas-fired generation assets.
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