Canadian private equity firm 32 Degrees Capital has closed its 32 Degrees Diversified Energy Fund II, raising commitments totaling $84.6 million. The partnership’s backers include endowments, family offices, funds-of- funds, government sources and high net worth investors from across North America. At the time of closing, the fund had already committed over $45 million through six transactions. The Calgary-based 32 Degrees focuses on diversified energy investments, partnering with management teams in early-stage oil and gas companies and energy service, equipment and manufacturing businesses.
32 Degrees Capital Announces Final Close of Diversified Energy Fund II
CALGARY, Alberta, Oct. 7, 2013 /PRNewswire/ — 32 Degrees Capital (32 Degrees), a Calgary based private equity firm, is pleased to announce the final closing of 32 Degrees Diversified Energy Fund II with $84.6 million of capital commitments. Fund II is a successor fund to 32 Degrees Diversified Energy Fund I and follows a similar investment strategy.
Launched in 2012, the fund investors are largely institutional and consist of investors from throughout North America including endowments, leading fund-of- funds investors, Canadian government agencies, family offices and high net worth investors. Thomas Capital Group, Gig Harbor, WA, served as placement agent.
“We are very pleased that we have been able to attract such a blue chip list of leading institutional investors” said Larry Evans, Managing Partner of 32 Degrees. “Our relevant experience and hands-on approach to investing in both the Canadian services and resource space has resonated very well with our investors. When we invest we are far more than a financial partner as our operating experience is attractive to the management of the investee company.”
At the time of closing, the Fund had already committed over $45 million through six transactions, which are split about equally between service and resource investments. “Our deal flow has been very steady as we continue to establish 32 Degrees as the go-to partner for emerging private companies financings,” said Art Robinson, Partner of 32 Degrees. “With such great access, we expect to make a couple more investments in the next six months which will have us back in the market with Fund III in the first half of 2014.”
About 32 Degrees Capital – Founded in 2004, 32 Degrees Capital is an energy-focused private equity firm based in Calgary, Canada. 32 Degrees follows a diversified energy strategy, making investments in partnership with management teams in early stage oil and gas companies and energy service, equipment and manufacturing businesses. We look to make investments in business models that have significant growth opportunities and that operate with or provide a significant cost advantage. We leverage our relevant operating experience with management teams that results in more success in achieving business strategies. Learn more at www.32degrees.ca
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About Thomas Capital Group
Thomas Capital Group (“TCG”), a registered broker-dealer, was founded in 1997 to assist and guide alternative investment managers worldwide in structuring funds and raising capital. TCG’s team possesses extensive placement and marketing experience, a global network of close investor relationships, and strong buy-side investment experience. Working with a select group of fund managers, TCG has helped raise billions of dollars from leading investors around the world. Learn more at www.thomascapitalgroup.com
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Sajan K. Thomas
SOURCE 32 Degrees Capital
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