Liberty Mutual Investments and Elda River Capital Management Form Strategic Partnership Targeting up to $500 Million in Capital
HOUSTON & BOSTON, October 15, 2026–(BUSINESS WIRE)–Liberty Mutual Investments (“LMI”), the investment firm for Liberty Mutual Group (“Liberty”), and Elda River Capital Management, LLC (“Elda River”), a real assets investment firm focused on energy and energy infrastructure, today announced a new strategic partnership targeting up to $500 million in credit investments. The partnership builds on a long-standing relationship between the two firms and broadens the suite of senior credit solutions that Elda River can offer to high-quality, middle-market borrowers across core sectors, including energy and infrastructure, power and renewables, and energy efficiency.
“We are proud to partner with LMI to launch this highly flexible credit strategy,” said Adam Daley, Managing Partner and Co-Founder of Elda River. “LMI has been a valued, long-standing partner, and this strategic partnership is an exciting extension of that relationship. We look forward to leveraging both firms’ collective capabilities to capitalize on an exceptional opportunity set in the middle market across our core energy and infrastructure sectors.”
Elda River’s senior team has invested together for more than two decades across multiple market cycles, collectively committing over $7.5 billion to more than 70 private investments. The firm invests across the capital structure through both equity and credit strategies, applying a differentiated approach built on deep sector specialization, direct sourcing, and strong alignment with talented executive teams.
“We are excited to work alongside Elda River to capitalize on an attractive opportunity set in the energy and infrastructure credit markets,” said John Kim, Head of Alternative Credit at Liberty Mutual Investments. “This commitment reinforces the breadth and strength of LMI’s platform in providing a diverse array of credit solutions side-by-side with our strategic partners.”
“We’re seeing robust secular growth across energy supply, electrification, grid stability, re-industrialization, and digitalization, creating a clear industry need for tailored credit solutions over the long term,” said Charley Poole, Head of Energy & Infrastructure at Liberty Mutual Investments. “LMI’s flexible approach allows us to move quickly to partner with Elda River, a leader with deep expertise in the space, and support its continued growth.”
LMI invests more than $130 billion of long-term capital globally across its integrated platform on behalf of Liberty. The partnership reflects LMI’s ongoing expansion and diversification of its Energy & Infrastructure and Alternative Credit platforms. LMI leverages a flexible investment approach with its partners to build enduring businesses and invest behind industries needed to drive economic growth.
