LS Power has closed LS Power Equity Partners VI with total commitments of approximately $6 billion. Launched in January 2026, Fund VI was oversubscribed and fully allocated against its hard cap by July, well in excess of its initial $4 billion target, the company announced October 6.
Deployment has already begun: about $1.7 billion is committed to pending acquisitions of gas-fired generation assets from Constellation Energy that will form a roughly 5-gigawatt platform across the PJM Mid-Atlantic and ERCOT Texas markets. The mandate covers renewables, conventional generation, energy storage, distributed energy resources and other critical energy infrastructure.
The LP base spans pension funds, insurers, sovereign wealth funds, asset managers, foundations, endowments, family offices and private wealth, with expansion into new markets. Across flagship funds and partnerships, LS Power has raised about $19.8 billion of equity since inception. Evercore Private Funds Group, Leader Capital Markets and Magenta Capital Services placed the fund; Willkie Farr & Gallagher was counsel.