Yorktown targets $1.7bn with 11th fund

The energy-focused private equity and venture capital firm is raising $1.7bn for Yorktown Energy Partners XI, following its 10th fund that closed on $1.5bn in 2013.

Yorktown Partners has launched Yorktown Energy Partners XI targeting $1.7 billion, according to the firm’s 2 March filing with the US Securities and Exchange Commission.

The fund had not received any capital commitments as of that date, according to the document.

Yorktown, an energy-focused private equity and venture capital firm based in New York, specialises in buyout, recapitalisation, industry consolidation, late venture infrastructure, growth capital and mid-market investments, according to PEI’s Research & Analytics division.

It invests between $10 million and $70 million in North American energy companies in the exploration and production, transportation, marketing, oil and gas, pipelines, midstream and manufacturing businesses, according to PEI Research.

Fund XI’s predecessor, Yorktown Energy Partners X, held a final close on about $1.5 billion, its initial target, in May 2013, according to PEI Research. Its investor base includes University of Michigan, which committed $15 million, American University in Cairo, ATP Private Equity Partners, Casey Family Programs, The William Penn Foundation and Andrea Waitt Carlton Family Foundation, according to PEI Research.