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Wednesday, October 28, 2026 · Today’s edition, 6:30 a.m. ETWed, Oct 28 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in
AnalysisSecondariesThe WrapThe Secondary Open

Energy Capital Partners raises $834m for Next Wave

Investors in ECP's $3.3bn Fund IV can cash out or roll at an undisclosed election price, while Meridiam's $4.5bn fund extends ownership of 15 assets.

At a glance

  1. The vehicle gives investors in its $3.3bn Fund IV a choice between cashing out and rolling, but the price used for that election was not disclosed.
  2. Meridiam has closed a $4.5bn North America Core Fund covering 15 transportation and social infrastructure assets, according to AltAssets.
  3. The ECP election price was not disclosed, and AltAssets reports Meridiam’s $4.5bn close without asset-level valuations.

Energy Capital Partners has raised an $834m continuation vehicle for Next Wave Energy Partners, our records show. The vehicle gives investors in its $3.3bn Fund IV a choice between cashing out and rolling, but the price used for that election was not disclosed.

Meridiam has closed a $4.5bn North America Core Fund covering 15 transportation and social infrastructure assets, according to AltAssets. The vehicle offers existing investors a liquidity option while extending the firm’s ownership of the assets.

Neither vehicle’s reported terms include asset-level marks. The ECP election price was not disclosed, and AltAssets reports Meridiam’s $4.5bn close without asset-level valuations.

Reported by The Wrap desk from our deal log and AltAssets. Published . Updated Oct 28, 2026 · 2:57 p.m. ET. Corrections

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