Quantum gets $35m commitment

New Mexico's $13bn state pension scheme has approved $60m in commitments to three private equity funds, including Quantum’s energy exploration fund.

Quantum Energy Partners’ latest fund, Quantum Energy Partners V, has received $35 million (€22 million) in commitments from the $13 billion New Mexico Public Employees Retirement Association.

The commitment approval was one of a trio of investments made by New Mexico, a spokesman told PEO, including $25 million to private equity real estate firm Starwood Capital’s latest global vehicle, Starwood Global Opportunity Fund VIII, and $30 million to Selene Partners Residential Mortgage Opportunity Fund.

Houston-based Quantum last year closed Quantum Energy Partners IV, on $1.32 billion targeting investments primarily in the oil and gas sector, but also in the midstream, oil field service, coal, power and alternative energy sectors. Among Quantum’s investments is Action Energy, an energy company based in Calgary, Alberta, exploring tight shallow gas reserves in Southwest Saskatchewan. Quantum has $3.2 billion in capital under management, according to its website, of which $2 billion is in its private equity funds and $1.2 billion in Quantum Resources, a direct property acquisition fund co-managed by Quantum and energy company, Aspect Energy

Starwood’s latest real estate fund follows on Starwood Global Opportunity Fund VII, which closed in 2005 on $1.475 billion. That same year the firm, founded by Barry Sternlicht, acquired champagne-maker Groupe Taittinger, which includes one of Europe’s largest hotel networks, Societe du Louvre.

In May, New Mexico approved more than $110 million in commitments, including $25 million to Onex Partners III, a Canada-based buyout fund which is targeting $4.5 billion; $30 million to Silver Point Capital’s distressed debt fund and $35 million to event-driven hedge fund Sandell Asset Management’s Castlerigg Partners.
 
Founded in 1998, Quantum has more than $3.2 billion in capital under management, of which $2 billion is in its family of private equity funds and $1.2 billion is in Quantum Resources, a direct property acquisition fund co-managed by Quantum and Aspect Energy.