ArcLight Capital, the Boston energy fund, is nearing the $2 billion target for its fifth fund.
A recent Securities and Exchange Commission (SEC) filling shows the Boston private equity firm has now raised more than $1.5 billion for its fifth fund.
As we previously reported ArcLight aims to raise $2 billion and Barclays Capital and boutique investment bank Madison Williams & Company are helping the firm get there.
Back in May ArcLight announced it had secured close to $600 million and neared the billion dollar mark in July.
ArcLight invests in both conventional and renewable energy projects. Landmark investments include Terra-Gen Power, the developer of the ambitious 3,000-megawatt Alta Wind Energy Center in Northern California’s Kern County.