LS Power Announces Final Closing of LS Power Equity Partners II at $3.085 Billion

LS Power Announces Final Closing of LS Power Equity Partners II at $3.085 Billion

The LS Power Group (“LS Power”) announced today the final closing of LS Power Equity Partners II (“Fund II”), the firm’s second private equity fund formed to make investments in the power industry. Fund II closed at its stated cap of $3.085 billion in a rapidly completed and oversubscribed fundraising. The original target was $2.5 billion. LS Power raised $1.2 billion in 2005 for its first private equity vehicle.

Mike Segal, Chairman and CEO of LS Power, commented: “We are grateful for the continued confidence and support of our existing investors and we appreciate the opportunity to build long-term relationships with our new partners.”

Jim Bartlett, President of LS Power Equity Advisors, the manager of the private equity funds, added: “We are very pleased with the outcome of the fundraising process. This capital, coupled with our capabilities, positions us well for the opportunities to come.”

Fund II attracted considerable interest from a diverse group of endowments, foundations, pension plans, corporations and family offices. LS Power was advised by Credit Suisse as placement agent and Mayer, Brown, Rowe & Maw LLP as legal counsel.

About LS Power:

LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, in addition to its development of more than 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired in total more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. LS Power actively invests in distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo, as well as Waste-to-Renewable Generation and Fuel initiatives. Additionally, LS Power invests in renewables and energy storage through REV Renewables. Across its efforts, LS Power has raised in excess of $48 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com.