Ridgewood Energy Oil & Gas Fund II is seeking $750 million and had raised $449.5 million as of 14 May, according to documents filed with the US Securities and Exchange Commission.
The New Hampshire Retirement System had been considering a commitment, but has not taken any action yet, according to documents from the pension’s board meeting last week.
Ridgewood Energy declined to comment.
The fund will charge a 2 percent management fee and 20 percent carried interest after an 8 percent return hurdle, according to Bloomberg. Eaton Partners is acting as a placement agent for the fund, Bloomberg revealed.
Eaton was also unavailable for comment.
Swanson: the CEO of energy
New Jersey and Texas-based Ridgewood Energy owns interests in 25 oil and gas wells and more than 334 square miles of federal lease blocks in the Gulf of Mexico, according to its website. It focuses on investments in sectors including energy technologies and information and wireless technology.
The firm is owned by parent organisation Ridgewood Companies, which has raised more than $2.7 billion for investment programmes, since inception, according to its website. Ridgewood Companies also owns Ridgewood Capital, which focuses on investments in the software, wireless and energy technology sectors.
The energy division was founded by chief executive officer Robert Swanson in 1982, according to the website. Swanson also is the chairman of Ridgewood Renewable Power, another Ridgewood company whose projects and underlying trusts were sold or liquidated in November 2010.