Post Oak Energy Capital LP raised its third fund, Post Oak Energy Partners III LP. The new fund is valued at $600 million.
Houston-based Post Oak, founded in 2006, focuses on investing in regional oil and gas providers along with related infrastructure companies. Some of the firm’s current investments include Balcones Energy Holdings, Crown Oil Partners and Mavros Minerals.
“We see great potential to once again work with best in class management teams in identifying and capturing good value in energy assets, particularly given current industry conditions,” says Post Oak managing director Frost Cochran. The on-going price volatility of oil and gas is taking a toll on energy companies, many of which are reassessing their balance sheets in search of solutions to avoid bankruptcy.
Post Oak is not the only PE firm that is looking to advantage of low commodity prices. Middle-market private equity firm Blue Wolf Capital Partners LLC teamed up with K2 Energy Capital LLC to identify and co-invest in energy services companies.
In other PE fundraising efforts, AE Industrial Partners LLC (AEI) raised its first aerospace-focused fund; The Carlyle Group LP (Nasdaq: CG) closed a new U.S. collateralized loan obligation (CLO) fund; and TPG closed a new North American and European-focused private equity fund.