ArcLight exceeds hard cap for fund VI

The energy-focused private equity firm has exceeded the hard cap for its sixth flagship fund, raising $5.27bn so far.

ArcLight Capital Partners, a Boston-based private equity firm focused on the energy sector, has exceeded the $5 billion hard cap it had set for ArcLight Energy Partners Fund VI, its sixth flagship fund, raising $5.27 billion to date, according to a filing with the Securities and Exchange Commission (SEC).

Of the $5.27 billion, $2.1 billion is from a related feeder fund, AEP Feeder Fund VI, the firm stated in the filing.

It was unclear whether ArcLight would continue fundraising, but according to the Wall Street Journal the firm has decided to increase the fund’s hard cap to $5.5 billion and to extend the fundraising period. ArcLight did not respond to a request for comment.

According to Infrastructure Investor’s Research and Analytics division, limited partners which have committed to the fund include the Montana Board of Investments, the Oklahoma Police Pension and Retirement System, Maine Public Employees Retirement System and YIELCO Investments.

Earlier this month, the Connecticut Retirement Plans and Trust Fund approved a commitment of up to $85 million to the fund.

Founded in 2001, ArcLight invests across the entire energy sector including coal, oil and gas production, midstream, power generation, gas and electric transmission and distribution as well as related service businesses.

Since its inception, ArcLight has invested over $12.7 billion in more than 90 power, midstream and production assets. In addition to its Boston headquarters, the firm also has an office in Luxembourg.