Finance & Investing | Capital Markets | Private Equity Activity
Post Oak Energy Zips Up $600 Million in Commitments
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Post Oak Energy Capital has reported the closing of its second fund with commitments totaling $600 million.
Post Oak Energy Partners II, LP was closed in a single closing at its hard cap of $500 million, and Post Oak's existing funds were increased by $100 million and will co-invest alongside the new fund.
Post Oak Energy Partners II is pursuing the same strategy as the first fund (Post Oak Energy Partners, LP), with investments in North American oil and gas companies, oil field services and related infrastructure. Funding from Post Oak is used for corporate growth capital, development acceleration, acquisitions and recapitalization purposes.
Post Oak's initial fund consists of investments in seven energy companies: five regionally focused oil and gas operators, one oilfield services company and one midstream company.
Frost Cochran, Managing Director of Post Oak, commented: "We are pleased that our strategy and team have the support of some of the most experienced private energy investors in the world. Our management team's industry backgrounds and investment experience will continue to create unique opportunities for our funds."