Energy Investors Funds

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Energy Investors Funds (EIF) was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. It is 100% management-owned. Since that time, EIF has mobilized over $3.4 billion in capital and currently manages four private equity funds: Project Finance Fund III, United States Power Fund, United States Power Fund II, and United States Power Fund III. The funds have made over 100 diversified investments, with a combined underlying asset value exceeding $7 billion spanning a wide range of investment strategies, technologies, and fuels.[1]

On June 28, 2004 Energy Investors Funds Group announced that its U.S. Power Fund acquired Black River Energy and its assets including Black River Generating Facility in New York and Hawaii-based Hamakua Energy Partners.[2]

In 2007 EIF, via its United States Power Fund III LP unit, bought an 80% stake in 14 power plants from Cogentrix Energy Inc., a unit of Goldman Sachs. The assets are held in a newly created holding company, EIF Calypso, which was funded by $850 million in loans from Calyon.[3]

Existing Coal Plants

Plant Name State Year(s) Built Capacity
Black River Generating Facility NY 1989 55.5 MW

The facility also has permits to burn tire-derived fuel, wood chips, and pelletized cardboard using CFB – Alstrom technology. Select Energy, a subsidiary of Northeast Utilities, entered into a three-year power contract with Black River Generation,[4] which then sold the facility to Energy Investors.

EIF Investors

By 2009 EIF Limited Partners had grown to 73 investors, including a wide array of institutional, financial, and strategic investors, many of whom are repeat investors. The players include:[5]

  1. Banks/Financial players
  2. Bilateral and multilateral government agencies
  3. Corporate pension funds
  4. Endowments and Foundations
  5. Family offices – Private investors
  6. Fund-of-funds
  7. Insurance companies
  8. Money managers
  9. Public pensions funds (state, city, county, police & fire)
  10. Strategic energy and power industry participants

Contact Information

Energy Investors Funds
One Penn Plaza, Suite 3306
250 West 34th Street
New York, NY 10119
Tel: 212-564-3796
Fax: 212-564-4802
Website: http://www.eifgroup.com/

Articles and Resources

Sources

  1. "EIF Profile" EIF Website, August 2009.
  2. "Energy Investors Funds’ US Power Fund, L.P. Acquires Black River Energy, L.P." EIF News, July 19, 2004.
  3. "Power Generation" Milbank, Tweed, Hadley & McCloy LLP Website, September 2009
  4. "Energy Investors Funds’ US Power Fund, L.P. Acquires Black River Energy, L.P." EIF News, July 19, 2004.
  5. "EIF Investor Profile" EIF Website, September 2009

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