Energy-focused private equity firm, First Reserve, has raised $1.2 billion for its first infrastructure fund, Financial News reports. The First Reserve Energy Infrastructure Fund will focus on contracted midstream resources, renewable and conventional power generation, and transmission and distribution, adds AltAssets.
Managing director and head of infrastructure group, Mark Florian, will head the investment team in the U.S. and the U.K. dedicated to the fund. The firm has received part of the capital from new investors, such as insurance companies, corporate funds and sovereign wealth funds.
Click here for the story from Financial News.
Click here for the additional coverage from AltAssets.