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]
- Banks/Financial players
- Bilateral and multilateral government agencies
- Corporate pension funds
- Endowments and Foundations
- Family offices – Private investors
- Fund-of-funds
- Insurance companies
- Money managers
- Public pensions funds (state, city, county, police & fire)
- 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
- ↑ "EIF Profile" EIF Website, August 2009.
- ↑ "Energy Investors Funds’ US Power Fund, L.P. Acquires Black River Energy, L.P." EIF News, July 19, 2004.
- ↑ "Power Generation" Milbank, Tweed, Hadley & McCloy LLP Website, September 2009
- ↑ "Energy Investors Funds’ US Power Fund, L.P. Acquires Black River Energy, L.P." EIF News, July 19, 2004.
- ↑ "EIF Investor Profile" EIF Website, September 2009
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