ArcLight Capital Closes $950 Million Power Industry Private Equity Fund.Business Editors/Energy Editors BOSTON--(BUSINESS WIRE)--Oct. 1, 2002 ArcLight Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Boston-based private equity firm, has announced the final closing of its $950 million debut fund, ArcLight Energy Partners Fund I, L.P. ArcLight established the fund to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. attractive investment opportunities in the rapidly evolving power, utility, and energy industry. The Fund attracted more than 20 institutional investors, including John Hancock Life Insurance Company, WestLB AG, Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. , and CDP CDP (cytidine diphosphate): see cytosine. (1) (Certificate in Data Processing) An earlier award for the successful completion of an examination in hardware, software, systems analysis, programming, management and accounting, Capital-Americas, a member of CDP Capital. Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. served as global placement agent. Daniel R. Revers re·vers also re·vere n. pl. revers also re·veres A part of a garment, such as a lapel, turned back to show the reverse side. and Robb E. Turner, senior investment professionals with substantial experience managing investments and companies in the power and energy sector, lead the ArcLight management team. Mr. Revers said the time is right for investing private equity in the power industry. "The power and energy sector is going through unprecedented change, creating unique private equity opportunities for knowledgeable investors," said Mr. Revers. "The size and complexity of the industry, coupled with recent market turmoil has effectively closed access to the public markets for power companies, making the power industry one of the largest and most attractive investment areas for private equity." The Fund will make equity and equity-like investments primarily in power generation, transmission and distribution, as well as power related fuel, services, and equipment assets. To date ArcLight Energy Partners Fund I, L.P. has invested more than $400 million in 14 power and power-related investments, including power generation plants, coal mines, and a natural gas storage facility. Mr. Turner said ArcLight has assembled a team with "unparalleled transactional expertise and proprietary industry relationships in the power and energy sector." Each of the firm's six Principals joined ArcLight from some of the world's leading financial institutions. Together with Mr. Turner and Mr. Revers, they will leverage their experience, relationships, and specialized knowledge to identify emerging trends and acquire attractive assets within the power industry. ArcLight is headquartered in Boston, Massachusetts with offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . |
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