First Reserve Announces $2.5 Billion Energy Fund

First Reserve, a private equity and infrastructure investment firm which focuses on energy, said this morning that it has closed a $2.5 billion fund. The firm--which has offices in Houston--said its First Reserve Energy Infrastructure Fund II, L.P. closed at $2.5 billion, above its initial $2 billion target. The company makes investments in such things as pipelines, storage, LNG facilities, renewable and conventional power projects, transmission, and more.