LS Power Announces Successful Close of LS Power Equity Partners V, L.P. Fund

LS Power Group, a prominent development, investment, and operating company in the North American power and energy infrastructure sector, has declared the closure of its latest fund, LS Power Equity Partners V, L.P. (Fund V). With total commitments surpassing the $2.5 billion target at approximately $2.7 billion, Fund V will allocate investments across renewables, conventional generation, and distributed energy resources.

This fund aims to support power and energy infrastructure assets, platforms, and companies, in line with the escalating electricity demand, driven by electrification, data center proliferation, and American manufacturing renaissance. LS Power, since its inception, has accumulated $60 billion in debt and equity capital, developing and acquiring over 47 GW and 160 power generation projects. LS Power Grid has advanced 16 transmission projects, serving 185 million people, and is set to leverage its market knowledge and industry network to invest Fund V's capital.

So far, Fund V has deployed around $1.6 billion across renewable and gas-fired generation, renewable fuels, and green hydrogen, with an extensive pipeline of opportunities. Notably, it has recently announced the acquisition of Algonquin Power & Utilities Corp.'s North American renewable energy business.  LS Power Equity Advisors, LLC, the investment manager, has raised $13.3 billion in equity commitments across its investment partnerships, primarily focusing on power and energy infrastructure industries.