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Closed-ended private equity funds with an energy, oil and
gas specific focus raised $13.75 billion from the close of 16 funds in H1 2015.
At the end of June 2014, the same number of funds had gathered $11.83 billion
of capital. The highest fundraising year for energy, oil and gas focused funds between
2012 and H1 2015 was 2013, when $31.46 billion was collected across the year
for this sector. Although, H1 2015 fundraising is 43 percent lower than in H1
2013, in the first half of 2015 total capital gathered has already outstripped
the amount raised in the whole of 2012 – the lowest fundraising year – by $1.09
In H1 2015, the largest private equity fund targeting
energy, oil and gas to hold a final close was EnCap Energy Capital Fund X
managed by EnCap Investments. The growth equity vehicle collected $6.5 billion
for investments into North America – 53 percent of the aggregate capital raised
in H1 2015. Carlyle International Energy Partners, the Carlyle Group’s global
buyout vehicle was the second largest fund to hold a final close, raising $2.5
billion from investors such as the San Francisco Employees’ Retirement System which
committed $100 million to the vehicle.
At the end of June 2015, there were 67 funds in market
targeting $37.51 billion for investments into this sector. With H2 energy, oil
and gas specific fundraising increasing by $1.77 billion between 2013 and 2014
despite a year on year fall in total capital gathered, it is possible to
suggest that the amount of capital collected for this sector in 2015 will
surpass aggregate 2014 fundraising levels.
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