Second fund in motion for First Reserve

First Reserve Corporation is set to begin fundraising for a billion dollar investment fund dedicated to energy infrastructure.

 

First Reserve is hoping to collect $1.25 billion for First Reserve Energy Infrastructure Fund II (FREIF II), Infrastructure Investor has learned.

 

First Reserve, a $24 billion private equity firm headquartered in Greenwich, Connecticut, amassed $1.2 billion for First Reserve Energy Infrastructure Fund I (FREIF I).

 

FREIF I closed in 2011 securing investment capital from California State Teachers’ Retirement System (CalSTRS), Maine Public Employees Retirement System (MainePERS) and Teacher Retirement System of Texas (TRS).

 

In addition to First Reserve, Brookfield Asset Management (BAM) is occupied with raising a fund.

 

BAM, a $150 billion asset manager, is wrapping up a $5 billion fund to invest in infrastructure in North and South America as well as Europe, Australia and New Zealand.

 

Brookfield is expecting Brookfield Infrastructure Fund II (BIF II) will close by June, Infrastructure Investor has learned.

 

Meanwhile, Morgan Stanley Infrastructure is ambitioning to raise $2.5 billion for its second infrastructure fund, Morgan Stanley Infrastructure Partners II (MSIP II).

 

Also, Sydney, Australia-headquartered Macquarie Group is targeting $2 billion for its Macquarie Infrastructure Partners III (MIP III).

 

Macquarie said its Macquarie European Infrastructure Fund 4 (MEIF4) closed on $3.6 billion. EQT Partners closed its EQT Infrastructure II on $1.5 billion.

 

In 2012, fundraising topped $23.5 billion, according to placement agent Probitas Partners.