US Renewables Group Announces Final Close for USRG Power & Biofuels Fund II, LP

LOS ANGELES, July 31 /PRNewswire-USNewswire/ -- US Renewables Holdings("USRG") announced today that it has successfully closed on $475 million ofthird party capital commitments in its most recent private equity fund,USRG Power & Biofuels Fund II, LP and related vehicles (collectively, "FundII"), ahead of the fund's original target of $250 million. The first closefor Fund II was held in December 2006. Fund II investments focus principally on: (i) renewable powergeneration (including biomass, geothermal, solar and other projects); (ii)clean fuels (including ethanol and biodiesel projects) and (iii) relatedlogistics. Since its initial close, Fund II has made eight investments. Credit Suisse Securities (USA) LLC acted as the financial advisor andplacement agent for Fund II. About USRG Established in 2003, USRG was formed to assemble and manage renewablepower, clean-fuel and related infrastructure assets. USRG manages twoprivate equity funds and one hedge fund and has in excess of $575 millionunder management.