Emerging infrastructure private equity investor Lieef Investment Management announced on January 29 the initial close of its inaugural fund, Lieef GP Capital Fund.
Brad Kavin, a founding member of BlackRock's renewable power and energy infrastructure platform and Anthelion Capital, established the private equity firm and also serves as its CEO.
Lieef first filed for the fund on November 30, 2023, at that time noting it had secured $25M in capital commitments from two investors since taking its first investment on November 16. It did not disclose a target for the fund and indicated it expected the subscription period to exceed a year.
Lieef GP Capital Fund will invest in projects or companies exposed to emerging infrastructure, earmarking $25M to $75M for every transaction. It is seeking opportunities that use proven technologies and are involved in the areas of renewable power generation and storage, electric vehicle charging, sustainable fuels, and wastewater. The US and Canada are priority markets but the fund can also invest in Organization for Economic Co-operation and Development countries.
"We are investors, but we are also entrepreneurs, so we think of capital as one of the many tools we have to support our partners. As such, we intend to invest in a limited number of opportunities to allow us to be focused on supporting our partners’ growth objectives," Kavin said in a statement.
