EIF Raking It In For Fund IV

Firm: Energy Investors Funds

Fund: United States Power Fund IV

Target: $1.75 billion

Amount Raised: $500 million to $600 million

Placement Agent: Atlantic Pacific Capital

Energy Investors Funds, which began marketing its latest vehicle, United States Power Fund IV, in August, anticipates holding a first close in April of between $500 million and $600 million, according to a source with knowledge of the situation.

The firm is seeking a total of $1.75 billion for the fund, which would represent an more than a 20 percent increase in size from United States Power Fund III’s $1.35 billion in capital commitments gathered in 2007.

Energy Investors Funds invests in electricity generating, transmission, and energy services assets; energy and utility company ownership interests; and utility service deployment investments. The firm, which has offices in Boston, New York and San Francisco, usually takes control stakes, and sometimes offers investors the opportunity to co-invest alongside its funds or to invest directly.

The firm’s supporters include ABP Investments, Contra Costa County Employees Retirement Association, Detroit Fire & Police Pension Board, Howard Hughes Medical Institute, John Hancock Life Insurance Co., Kauffman Foundation, Lincoln National Life, Mayo Clinic, New York Life Investment Management and the University of Toronto Endowment Fund and Pension Plan.