Excelsior Energy Capital gathers $502m for sophomore fund

The target is $750 million.

  • Excelsior Renewable Energy Investment Fund II LP will invest in middle-market wind, solar and storage projects and businesses across North America
  • Fund II is expected to hold a final close in 2023
  • Probitas Partners, DBJ Securities and The Trinity Group served as placement agents

Excelsior Energy Capital has raised $502 million for its second fund. The target is $750 million.

Excelsior Renewable Energy Investment Fund II LP will invest in middle-market wind, solar and storage projects and businesses across North America, in addition to select energy transition infrastructure outside of core renewables.

Excelsior officially launched the fundraise last fall. Fund II is expected to hold a final close in 2023.

“To have closed on two-thirds of our target in just five months is a very encouraging start to our Fund II fundraise, especially in this environment,” said Chris Moakley, managing partner of Excelsior Energy Capital, in a statement.

Sidley Austin LLP served as legal counsel for Excelsior on the transaction. Probitas Partners, DBJ Securities and The Trinity Group served as placement agents.

Based in Excelsior, Minnesota and Portland, Oregon, Excelsior Energy Capital is focused on the middle-market renewable energy and energy sectors.