ARC Financial closes ninth energy PE fund, raising $780 mln
Canadian energy private equity firm ARC Financial Corp has closed its ninth fund, securing $780 million. ARC Energy Fund 9 was backed by institutional investors in Canada, the United States and Europe. It will maintain ARC's longstanding strategy of investing in privately-held exploration and production and oilfield service companies located in Canada. ARC President Brian Boulanger said capital committed to Fund 9 "represents more equity than was raised for oil and gas in the Canadian public market over the last 18 months." Founded in 1989, Calgary-based ARC has raised $6 billion across nine funds since the launch of its private equity business in 1997 and has invested in more than 180 companies.
2 July 2019•2 mins read
