HOUSTON, TX--(Marketwired - Feb 1, 2017) - EIV Capital, LLC ("EIV Capital"), an energy-focused private equity firm, announced today the final closing of its third fund, EIV Capital Fund III, LP and its affiliates ("Fund III"), at its hard cap of $450 million, surpassing its original $350 million target. Fund III will continue to pursue the same investment strategy as prior funds by making growth equity investments primarily in the midstream energy sector and opportunistically in other parts of the energy value chain.
EIV Capital launched its institutional fundraise for Fund III in August 2016 and completed fundraising activities in early December 2016, attracting a diverse base of investors that further supports EIV Capital's focus on growth equity investments in the lower middle market energy sector. EIV Capital will continue to utilize and execute on its successful approach of partnering with entrepreneurial management teams and operating companies in less efficient and undercapitalized markets. Fund III will primarily focus on growth midstream infrastructure projects, including gathering, processing, distribution, storage and marketing of oil, natural gas and refined products. In addition to its midstream focus, Fund III will seek to partner with proven entrepreneurs in related segments of the energy value chain.
"The strong performance of our prior two funds and the continued support from our existing limited partners provided EIV with momentum toward this successful fundraise," noted Patti Melcher, Managing Partner of EIV Capital. "We are grateful for our existing partners' support and welcome our new investors to EIV. We believe the energy industry will continue to provide attractive investment opportunities and that EIV is well positioned to leverage its operating, commercial and financial expertise to identify these opportunities and be the partner of choice for experienced management teams and strong operating businesses."
Champlain Advisors, LLC served as the exclusive placement agent for Fund III.
About EIV Capital
Founded in 2009, EIV Capital is a Houston, Texas-based private equity firm specializing in providing growth equity to the North American energy industry, managing approximately $800 million in equity commitments across its funds and affiliates. EIV Capital focuses on midstream and related service businesses with an emphasis on energy infrastructure and businesses involved in the processing, transportation, storage, or conversion of oil, natural gas and refined products. The firm's management has extensive experience leading and investing in successful companies across the energy value chain. For more information, visit www.eivcapital.com.
About Champlain Advisors, LLC
Founded in 2003, Champlain Advisors, LLC is an SEC registered Broker/Dealer and FINRA/SIPC member firm that provides global fund placement, advisory and investor relations services to alternative investment managers. Please visit www.champlainadvisors.com for additional information.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the company's plans, objectives, goals, strategies, future events, future bookings, acquisitions, business trends, executive compensation, and other information that is not historical information. Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.