Houston, Texas-based Post Oak Energy Capital has closed its second fund on its $500 million hard-cap, according to a statement. The firm has also raised an additional $100 million that will be co-invested alongside the fund, bringing the total capital raised to $600 million.
Fund II will follow the same investment strategy as Post Oak’s debut fund that collected $200 million in 2011. Fund I brought in only one limited partner, the University of Texas Investment Management Company, to raise the whole fund.
Post Oak was unavailable for comment at press time.
Post Oak makes investments of between $25 million and $75 million in North American oil and gas companies, oil field services and related infrastructure in the growth capital, acquisitions and recapitalisation processes. The firm’s portfolio includes seven energy companies, including Titan River Energy, which Post Oak co-invested in with Ridgemont Equity Partners.
Post Oak was founded in 2006. The firm is led by founding partner and managing director Frost Cochran.