US energy-focused private equity firm Energy Investors Funds invests in Astoria Energy

US energy-focused private equity firm Energy Investors Funds, through its United States Power Fund III, has closed an investment in Astoria Energy II, a limited liability company created to develop, construct, own and operate a new natural gas-fired power plant in Astoria, Queens Borough, New York. USPF III will own the largest equity stake, in terms of percentage, in the project. Other financial terms of the transaction were not disclosed.