Alexandra Atiya

Carlyle’s debut $1.1bn infrastructure fund has posted a gross IRR of 5% and a net IRR of -2% as of 30 June, according to IPO documents. But one of the fund’s LPs said IRR was not a valuable gauge of the fund’s ultimate performance.

Rift Valley Railways, which operates in Kenya and Uganda, has received financing from a host of investors including the African Development Bank and the International Finance Corporation.

Senior figures at Evercore Private Funds Group said the first quarter was one of the worst for fundraising in years, adding a large capital overhang was one constraint holding LPs back from making new commitments.

The Blackstone Group’s infrastructure team will rebrand as Stonepeak Infrastructure Partners, which will be led by Michael Dorrell (pictured) and Trent Vichie.

John Bryson, former CEO of Edison International, has served as a senior advisor to KKR’s infrastructure team since 2008.

The deal marks KKR's first investment in European renewable energy. Partners Group is expected to co-invest in the venture.

The Marcellus Shale and its supporting infrastructure continues to attract private equity firms keen to benefit from the US natural gas play.

EIG Global Energy Partners has closed its first fund since its spinout from Los Angeles-based asset manager TCW late last year above its $2.5bn target and its hard cap of $3.5bn.

The Swiss fund-of-funds manager is acquiring Pennsylvania solar energy projects from US developer Tangent Energy Solutions. Capital Dynamics also agreed to fund future projects developed by Tangent.

The International Finance Corporation expects to sign on major LPs including sovereign wealth funds and large pensions for the fund, which will invest in projects as well as companies.