OUT OF GAS: ArcLight Capital Struggles to Raise Capital for Sixth Fund
On December 10th, West Texas Intermediate (WTI), also known as Texas light sweet, and Brent crude oil prices drifted to recent new lows. WTI oil prices fell below US$ 61 a barrel, while Brent prices dropping under US$ 65 a barrel for the first time since 2009. This economic blessing for U.S. consumers is creating havoc for energy-based private equity funds, as fossil fuel inventories are growing.
Boston-based ArcLight Capital Partners, LLC has struggled to raise capital for its sixth energy fund, bringing in US$ 770 million according to filings. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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