Graham Winfrey
The firm beat its $750m target and has made two investments from the fund so far.
Blackstone’s debt affiliate will sell Bear Tracker Energy to Summit Midstream Partners less than three years after investing $200m in the business. GSO invested or committed more than $1bn to energy investments in 2012.
The $165bn asset manager has completed its third ever investment in renewable energy, acquiring a minority stake in 13 wind power projects for $500m.
The firm’s first energy mezzanine fund collected nearly double its $750m target and has already made six investments in both power generation and oil and gas assets.
US buyout volume, exit volume and fundraising levels all fell during the third quarter of 2012, though mid-market activity remains on par with 2011 through mid-November.
Managing director Hugh Briggs is the second senior level executive at CVC to announce his retirement in recent weeks, as chairman Mike Smith will step down in January.
The $15bn endowment has established a new GP relationship by committing to Pine Brook, which is targeting $2bn for its second fund.
Summit Midstream Partners will invest $207m in Colorado- and Utah-based ETC Canyon Pipeline. Summit invested $590m for natural gas assets in the same basin last October.
The energy-focused firm has made its sixth investment from Fund V – its first since ending its partnership with Carlyle – which is currently targeting $6bn.
The partnership between BlackRock Alternative Investors and Irish clean energy developer NTR has raised capital from 18 investors, according to SEC filings.