#United States #New York #Energy Infrastructure #Fund VI #LS Power

LS Power Closes $6 Billion Fund VI

On October 6, 2026, LS Power, recognized as a leading company in the development, investment, and operation of power and energy infrastructure in North America, announced the successful closing of LS Power Equity Partners VI, commonly referred to as Fund VI. This monumental fund has garnered total commitments of approximately $6 billion, far exceeding its original target of $4 billion.

Launched in January 2026, this fund attracted substantial investor interest, leading to its oversubscription by July of the same year. LS Power’s impressive history of providing attractive returns across various market cycles has been a significant factor in capturing this demand. According to CEO Paul Segal, this funding milestone signifies strong confidence in LS Power’s unique strategy and team, developed meticulously over more than 30 years in the industry.

Fund VI is strategically set to enhance LS Power’s capabilities to invest across various sectors including renewables, traditional generation, energy storage, and other critical components of energy infrastructure. Currently, the fund is actively being deployed, with around $1.7 billion committed to forthcoming acquisitions aimed at establishing a robust 5-gigawatt portfolio of gas-fired generation assets from Constellation Energy across the Mid-Atlantic (PJM) and Texas (ERCOT) markets.

Darpan Kapadia, COO of LS Power, emphasized the need for more than just financial investment to meet the growing demand for reliable and affordable energy sources in the U.S. He stated that the company's extensive hands-on experience across different energy infrastructure areas deeply informs their investment strategies. This expertise allows LS Power the flexibility to explore various opportunities and technologies in different market environments.

David Nanus, President of LS Power Equity Advisors, shared insights into the expanding opportunities available to the firm. He expressed gratitude to their investors for the continued trust and support, reinforcing the belief that the current scale of opportunities within the energy sector is unprecedented. With Fund VI, LS Power is well-positioned to deploy capital effectively, leverage its vast capabilities, and build meaningful partnerships that align with their investors' objectives.

Fund VI has successfully attracted commitments from a diverse array of global investors, including leading pension funds, insurance companies, sovereign wealth funds, and private equity investors. The firm’s existing investors played a significant role in this fundraising effort, but LS Power also made strides in enhancing its global investor base in new markets.

This achievement follows LS Power’s previous Fund V, which raised $2.7 billion in 2024 and is fully deployed. Since its inception, LS Power has raised approximately $19.8 billion across its investment initiatives. The company, founded in 1990, has established itself as a premier developer and operator in the North American power and energy sector, boasting platforms that cover generation, transmission, and innovative energy solutions.

With its history of developing or acquiring over 50,000 megawatts of power generation assets, including solar, wind, hydro, and storage facilities, LS Power has positioned itself as a key player in addressing the expanding needs for sustainable energy solutions. Additionally, the company operates seven transmission utilities and has built extensive high-voltage transmission infrastructure, further reinforcing its commitment to enhancing North American energy capabilities.

LS Power's reputation for operational excellence and strategic foresight is instrumental in navigating the complexities of energy investments, enabling it to remain at the forefront of the power and energy sector. For further information about LS Power and its ventures, please visit LS Power's official website.