Energy Capital Partners

What Energy Capital Partners does

Energy Capital Partners (ECP) is a private equity and infrastructure investment firm founded in 2005 by Doug Kimmelman (previously head of Goldman Sachs Power Investing), specializing in energy transition assets including electricity generation, transmission, distribution, and sustainability infrastructure. The firm invests through two primary platforms: equity funds executing value-add, predominantly control investments across electricity and sustainability infrastructure, and a credit platform that has issued over $73 billion in debt capital to energy infrastructure borrowers over the last two decades. Since inception, ECP has raised over $37 billion in capital commitments from 600+ institutional limited partners globally across six flagship equity funds, two energy transition continuation funds, and approximately $9 billion in co-investment vehicles, deploying capital across 78 portfolio companies spanning natural gas and geothermal generation, nuclear services, renewables, LNG infrastructure, waste management, recycling, and emerging digital infrastructure.

ECP's product surface spans electricity infrastructure investments (power generation assets such as the former Calpine portfolio at 26,000 MW across 77 plants, PROENERGY's 2.4 GW gas turbine fleet, and Terra-Gen's 9 GW of wind, solar, storage, and geothermal assets) and sustainability infrastructure investments (Biffa, Liberty Tire Recycling, Pivot Energy, Restaurant Technologies, Atlantica, and Grain LNG). The firm operates with a value-added, operationally focused investment approach, partnering with management teams to drive operational and strategic improvements rather than relying on financial engineering. Revenue mechanics follow standard private equity economics: management fees on committed capital and carried interest on investment gains above a hurdle rate, sourced from institutional investors including pension funds, sovereign wealth funds, insurance companies, and family offices.

In August 2024, ECP combined with London-listed Bridgepoint Group Plc to form a combined alternative asset manager with approximately $87 billion in assets under management spanning private equity, credit, and infrastructure across North America and Europe. The combination extended ECP's geographic reach into the UK middle market and broadened its strategy beyond pure energy infrastructure. Most recently, ECP has positioned itself at the intersection of the AI buildout and power demand through a $50 billion strategic partnership with KKR to develop hyperscale data center infrastructure, a $25 billion US power generation partnership with Abu Dhabi's ADQ, and active deployment across nuclear services (EnergySolutions re-acquisition), LNG (Grain LNG JV with Centrica), and digital infrastructure.

Name

Energy Capital Partners

Legal name

Energy Capital Partners Management, LP

Website

https://ecpgp.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Energy Capital Partners is a US private equity and infrastructure firm founded in 2005 that invests in electricity generation, sustainability infrastructure, and digital infrastructure for energy transition. It serves institutional limited partners globally and manages approximately $37B in raised capital within a combined $87B Bridgepoint platform.

Ownership category

akta.pro rank

Product category

Private Equity & Infrastructure Investment

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)

akta.pro secondary industries

Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Energy transition infrastructure
• Private equity investing
• Infrastructure equity funds
• Energy credit platform
• Sustainable infrastructure investing

Headquarters

HQ city

Summit

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Fund Management: ECP raises capital from institutional investors through flagship equity funds and co-investment vehicles, earning management fees on committed capital and performance fees (carried interest) on investment gains. The firm has raised approximately $23 billion across six flagship funds, $2.8 billion across two energy transition continuation funds, and approximately $9 billion across co-investment vehicles.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Energy Capital Partners is a private equity firm that raises capital from institutional investors and invests in energy transition infrastructure assets. The firm operates two primary platforms: equity funds that make value-add, predominantly control investments in electricity and sustainability infrastructure, and a credit platform providing debt capital solutions to energy infrastructure borrowers. ECP has raised over $37 billion in capital commitments since 2005 across six flagship equity funds, continuation funds, and co-investment vehicles, deploying capital into power generation, renewables, nuclear services, waste management, recycling, and digital infrastructure assets.

Product overview

Energy Capital Partners is a private equity and investment firm, not a traditional product company. The firm operates as a leading investor in energy transition infrastructure with two primary investment platforms: equity funds making control and value-add investments in electricity and sustainability infrastructure, and a credit platform providing debt solutions to energy infrastructure borrowers. ECP's product offering consists of investment capital deployment across its portfolio companies, which include power generation assets (natural gas, nuclear, renewables), sustainability infrastructure (waste management, recycling), and digital infrastructure (data centers). The firm has raised over $37 billion in capital commitments from institutional investors globally since 2005, organized across flagship equity funds, continuation funds, and co-investment programs. In 2024, ECP combined with Bridgepoint Group Plc to create a combined platform with approximately $72-98 billion in assets under management across private equity, credit, and infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Cornerstone Generation: Power generation portfolio including Waterford Energy Center, Darby Generating Station, and Lawrenceburg Power Plant.
• New Leaf Energy
• Terra-Gen
• PROENERGY

Products and services

• ECP Equity Funds Flagship equity investment vehicles that make value-add, predominantly control investments in electricity and sustainability infrastructure sectors. The funds have raised approximately $23 billion across six flagship funds, approximately $2.8 billion across two energy transition continuation funds, and approximately $9 billion across co-investment programs, targeting institutional investors such as pension funds, sovereign wealth funds, and insurance companies.
• ECP Credit Platform

Quantifiable outcome

• 600+ limited partners globally
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered flagship and core.

• Centrica plcflagshipStrategic or Co-development Partner · 14 August 2025ECP and Centrica formed a 50/50 joint venture to acquire Grain LNG from National Grid for approximately £1.5 billion. Grain LNG is Europe's largest LNG regasification terminal. The partnership combines ECP's energy infrastructure expertise with Centrica's UK market knowledge.
• KKRflagshipStrategic or Co-development Partner · 30 July 2025KKR and ECP formed a $50 billion strategic partnership to develop hyperscale AI data center infrastructure in the US. The inaugural investment is a 190 MW hyperscale data center campus in Bosque County, Texas through a joint venture with CyrusOne, representing the first investment from this partnership.
• CyrusOnecoreStrategic or Co-development Partner · 30 July 2025CyrusOne partnered with ECP and KKR to develop a 190 MW hyperscale data center campus in Texas. CyrusOne serves as the data center developer and operator for the project being constructed adjacent to Calpine's Thad Hill Energy Center.
• Bridgepoint Group plcflagshipStrategic or Co-development Partner · 20 August 2024ECP combined with Bridgepoint Group Plc, a London-listed global leader in middle-market private equity, credit and infrastructure. The combination created a $72 billion global alternative asset manager spanning North America and Europe.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Brookfield Asset Management: One of the largest global infrastructure and renewable energy investors with comparable scale and a similarly energy-transition-focused strategy; directly competes with ECP for institutional LP capital and large-scale power generation and transition infrastructure assets.
• KKR: Global alternative asset manager with an established infrastructure platform; KKR is both a strategic partner in ECP's $50B AI infrastructure JV and a direct competitor for large energy-transition and infrastructure transactions.
• Stonepeak Partners: Pure-play North American infrastructure and energy transition private equity firm; competes head-to-head with ECP for utility-scale renewables, power generation, and energy transition assets across similar LP and portfolio segments.
• I Squared Capital: Global infrastructure private equity manager focused on energy, utilities, and transportation; directly comparable to ECP in fund size, strategy, and recently acquired Liberty Tire Recycling from ECP, indicating overlapping sourcing and execution capacity.
• ArcLight Capital Partners: Energy-focused private equity firm investing in power generation, midstream, and electric power infrastructure; highly comparable to ECP's strategy and was a co-seller of the Gavin Power Plant to ECP, evidencing direct deal overlap.
• EQT Infrastructure: European-headquartered infrastructure investor with growing North American energy transition exposure; competes with ECP for large-scale infrastructure transactions and pension fund/sovereign wealth mandates globally.
• Global Infrastructure Partners (BlackRock): Purpose-built infrastructure platform acquired by BlackRock that invests across energy, transport, and digital infrastructure; one of the closest direct competitors to ECP in energy infrastructure PE and a frequent co-bidder.

Broad incumbents

• Macquarie Asset Management: One of the world's largest infrastructure asset managers via Macquarie Infrastructure and Real Assets; broader mandate and global scale than ECP but directly overlaps in energy infrastructure PE and credit strategies.
• The Carlyle Group: Large global alternative asset manager with energy and infrastructure strategies; a former seller of Liberty Tire Recycling to ECP and a comparable platform with overlapping LP base and infrastructure mandates.
• Blackstone: World's largest alternative asset manager with a multi-strategy infrastructure platform; co-seller of Gavin Power Plant to ECP and competes for the largest energy infrastructure transactions and LP allocations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/energy-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A15 records

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Energy Capital Partners