Predominantly Oil and Gas-Focused Private Equity Firms – February 2013

by Louise Maddy

  • 06 Feb 2013
  • PE
  • NR

According to Preqin's Fund Manager Profiles database, there are currently 379 private equity firms considering investments in the oil and gas industry. Of these fund managers, 106 have raised a fund with exposure to the oil and gas industry, raising an aggregate $102bn in the last decade.

Ninety of these 379 firms focus on this industry either exclusively or as a core oil and gas-focused investment strategy. Fifty-two percent of these 90 fund managers have raised an oil and gas focused-fund since 2003, collectively raising $68.7bn.

There are 56 funds in market considering investments in the oil and gas industry, 25 of which look to invest exclusively in this industry sector. These funds are targeting an aggregate $42bn, and 70% of the aggregate target capital is being sought by oil and gas-focused funds. Forty-three percent of these 56 funds have already having held at least one interim close.

Riverstone Holdings conducts buyout and growth capital investments in the midstream, exploration and production, oilfield services, power and renewable sectors of the energy industry. Founded in 2000, it is the largest firm by aggregate capital raised over the last decade to focus on oil and gas investments. The firm has raised $19.9bn over the last 10 years, $11bn of which has been raised in funds considering investments in the oil and gas industry. It is currently raising the Riverstone Global Energy and Power Fund V, a global-focused natural resources fund with a $6bn target.

First Reserve Corporation is a global energy-focused private equity and infrastructure investment firm, established in 1980. In terms of the private equity funds it has raised over the last decade, $10bn has been raised by oil and gas-focused vehicles and a total of $19bn has been garnered for all private equity fundraising. The firm is currently raising the First Reserve Fund XIII, with a $6bn target. The global-focused fund targets well-positioned energy and natural resources companies.

Established in 1988, EnCap Investments is a provider of private equity funding to independent US oil and gas companies. The firm has two offices in Houston and Dallas and has raised a total of $12.7bn over the last decade. $7.9bn of this capital specifically has exposure to the oil and gas industry. EnCap are currently raising the EnCap Energy Capital Fund IX, with a $4.25bn target to make upstream oil and gas investments in the US.

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