News
Harbert Independent Power Fund Closes at $485 Million
Birmingham, Alabama, February 5, 2015 – Harbert Management Corporation (“HMC”) and Harbert Power, LLC announce the final close of Harbert Power Fund V (“HPF V”), which invests in independent power assets in North America, with equity commitments of $485 million. The latest fund includes significant United States and international investors and represents the largest discretionary HMC power fund to date. Together with HMC’s $900 million separate account fund, Gulf Pacific Power, which focuses on power asset investments larger than those targeted by HPF V, HMC is currently investing a pool of approximately $1.4 billion of equity in independent power assets. Globally, HMC manages approximately $4 billion which includes $1.8 billion in committed equity for its independent power funds.
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