Reserve Fund II · 2026 Vintage

Reserve Fund II


LP Liquidity and Co-Investment Reserve — a platform support vehicle sized to sustain the reserve needs of Alzaro's operator-led energy infrastructure portfolio.

$16.44B
Fund Size
Support Vehicle
Vehicle Type
$2M
Minimum Commitment
In Formation
Deployment Status
Strategy

Investment thesis

Reserve Fund II holds capital in reserve to support limited partner liquidity needs and co-investment opportunities across the Alzaro platform. This vehicle provides a disciplined capital pool that can support secondary liquidity mechanisms for LPs and fund co-investment allocations alongside the platform's investment funds, without diverting committed capital from primary fund strategies.

Coverage

Target asset types

  • LP liquidity support and secondary transaction facilitation
  • Co-investment capital alongside platform investment funds
  • Bridge financing for time-sensitive co-investment opportunities
  • Platform-wide capital flexibility reserve
Role within the platform

Reserve Fund II Role

Reserve Fund II is a capital-preservation support vehicle. It does not make new project investments on a standalone basis; it holds reserve capital to support LP liquidity needs and co-investment alongside the Alzaro platform's investment funds.

Fees & terms

Vehicle summary

VehicleDelaware limited partnership
Preferred return8% compounded annually
Carried interest20% above 8% pref (100% GP catch-up)
Fund term12–15 years + two 1-year extensions
Investment period5–6 years
Minimum LP commitment$2 million
GP commitment2% of total fund commitments
Distribution waterfallEuropean (whole-fund)
Fund administratorIndependent third-party administrator (to be appointed)
AuditorPricewaterhouseCoopers LLP
Legal counselLepore Law Group
We size each fund to the durability of its cash flows, not the appetite of the moment. Concentration follows conviction, and conviction follows underwriting.
Alzaro Energy Investment Committee

Talk to our investor relations team

For fund materials, capital account information, and partnership inquiries, reach Alzaro Energy directly.

Contact Investor Relations