Turnbridge Capital closes debut fund on $400m

The Texas-based firm invests in middle market energy industry companies

Texas-based Turnbridge Capital has closed its debut fund on $400 million. The firm beat its $350 million target, raising the fund in just six months.

Turnbridge declined to comment on fundraising.

The fund will continue the firm’s existing strategy of investing alongside middle market management teams in the upstream, midstream and downstream energy sectors.

Investors in the debut fund include pensions, endowments, foundations and family offices, according to a statement.

The firm was founded in 2008 by J. Kent Sweezey and Todd M. Tomlin. Turnbridge partners include C. Mitchell Cox, David J. Graham, Robert B. Horton and John U. Clarke.

Turnbridge has invested in five Texas-based companies so far – Pipe Pros a casing and tubing installer; Aereon a gas and vapor handling equipment company; ROC Service Company a wellsite and surface facilities installation company; Allied Wireline Services a wireline service provider; and Pro-Stim Services a specialized stimulation service provider, according to its website.

Eaton Partners served as placement agent for the fund.