Our Private Equity Group has achieved compelling risk-adjusted investment returns for a loyal and growing group of high profile limited partners and has approximately $23.3 billion of assets under management as of March 31, 2016. Our Private Equity Group broadly categorizes its investment strategies as corporate private equity and U.S. power and energy infrastructure. Our private equity professionals have a demonstrated ability to deploy flexible capital, which allows them to stay both active and disciplined in various market environments. The group's activities are managed by three dedicated investment teams in North America, Europe and China. The group manages four flagship funds focused primarily on North America and, to a lesser extent, Europe, four commingled funds and five related co-investment vehicles focused on U.S. power and energy infrastructure and one China growth fund.
Our flagship funds pursue opportunistic majority or shared-control investments in businesses with strong franchises and attractive growth opportunities in North America and Europe. We seek investments in companies with strong existing management teams where our capital can unlock value by serving as a catalyst for growth.
Ares EIF targets U.S. power and energy infrastructure across the power generation, transmission and midstream sectors, and seeks attractive risk-adjusted equity returns with current cash flow and capital appreciation. We have a 29 year track record across investment cycles as one of the first managers focused on the independent power and electric utility industry.
In Greater China, we primarily target minority growth equity investments in high quality companies that operate industries we believe will be the primary drivers of China’s economic growth over the next decade. We seek outstanding management partners that are in need of both growth capital and constructive equity sponsorship to satisfy a range of balance sheet, governance and strategic needs.