4D Global Energy Advisors has closed a $181 million (€133 million) fund, well above its original $150 million target.
SGAM/4D Global Energy Development Capital Fund II, 4D’s second fund, will provide development capital for small to medium size companies in the technology and services segments of the hydrocarbons industry. This fund and 4D’s earlier fund are the only European funds exclusively dedicated to this sector.
Fund II investors include five leading US charitable foundations, university endowments, investors in 4D’s earlier fund, major European institutions, family offices, and several leading industry figures.
The fund has already made three investments totalling $50m: Fairfield Energy, a North Sea exploration-production company, Iplom/Finoil, an Italian refining-retailing company; and Africa Fortesa Corporation, a Senegalese exploration-production and drilling group.
Global Private Equity acted as placement agent for the fundraising.
4D’s $81 million first fund was launched in 2003 and it is now fully invested.