New Energy Capital Partners LLC announced April 4 that it held a final closing for the New Energy Capital infrastructure credit fund with total capital commitments of $325 million, exceeding its initial target of $250 million.
New Energy Capital Partners is an asset management firm focused on clean energy infrastructure. The fund held its first close in the first half of 2016 and has already committed more than a third of its capital to portfolio investments. The fund seeks to cover a large number of investment structures, such as senior debt, subordinated debt and preferred equity, according to a news release.
"Institutional investors are increasingly seeking exposure to clean energy investments, the fastest growing sector of the energy market. Since NEC's inception thirteen years ago, our funds have demonstrated strong performance through multiple market cycles and regulatory changes," Scott Brown, New Energy Capital's CEO, said in the news release.