US power and energy infrastructure manager LS Power Equity Advisors has set a $2.5bn (€2.3bn) fundraising target for its fifth private equity fund, according to an investor’s meeting document.

Teachers’ Retirement System of Louisiana’s (TRSL) meeting document showed that the pension fund has approved a $50m commitment to LS Power Equity Partners V.

TRSL’s commitment amount to the LS Power fund has been set at not more than 10% of Fund V’s total capital commitments.

TRSL’s investment consultant, Hamilton Lane, disclosed in the meeting document that Fund V is expected to target conventional power generation, renewable energy, and distributed energy infrastructure assets in North America.

Fund V is expected to make 10 to 15 investments worth between $100m to $500m each and hold over a four to six-year period.

LS Power raised $2.25bn for its fourth private equity fund back in 2018.

To read the latest edition of the latest IPE Real Assets magazine click here.

Topics