About This Fund
Arroyo Energy Investors Fund II is the second energy infrastructure fund raised by Arroyo Energy Investment Partners LLC, a Houston-based investment manager specializing in North American power generation and energy infrastructure. The fund closed in 2015–2016 with $355 million in committed capital and represents Arroyo's first independent flagship fund following the team's separation from J.P. Morgan's infrastructure business in 2014. The team's roots trace back to 2003 under the Bear Stearns Principal Strategies and subsequently J.P. Morgan Alternative Asset Management infrastructure platforms.
The fund pursues an opportunistic energy infrastructure strategy in the United States, targeting assets across the power generation, midstream, and utility-scale energy infrastructure spectrum. Investment focus spans conventional power generation (natural gas, dual-fuel), oil and gas infrastructure, renewables and energy transition assets, refining, and adjacent industrials. Arroyo's investment approach focuses on assets in transition—including operational assets requiring capital structure optimization, acquisitions from financially distressed or motivated sellers, and brownfield development projects—seeking to generate superior total equity returns through disciplined asset selection and active portfolio management.
Fund II's investor base includes institutional investors such as Ascension Healthcare Master Pension Trust, endowments, and foundations. The fund has completed its investment and value-creation cycle and is in the liquidated phase. Arroyo subsequently raised Fund III (2019 vintage) and Fund IV (final close July 2025, $1 billion+), with the fund management team deploying approximately $2 billion across all vehicles. Arroyo Energy Investment Partners LLC is SEC-registered (Form D CIK: 1646218) and the fund is structured as a Delaware limited partnership.