Dallas-based Aethon Energy Management LLC, an investment firm focused on onshore oil and gas, has closed its second private equity fund at $240 million, beating its $200 million target. Aethon II LP’s backers include new and previous institutional investors. According to the firm, the fund has been fully deployed. As previously reported by PE HUB, Aethon, in partnership with RedBird Capital, acquired the Moneta Divide assets from Encana Corp subsidiary Encana Oil & Gas (USA) last May. And in July, Aethon, together with RedBird again, bought certain Ark-LA-Tex assets from SM Energy Company. No financial terms were disclosed for either transaction.
DALLAS, November 17, 2015 — Aethon Energy Management LLC (“Aethon” or the “Company”), a Dallas-based private investment firm focused on onshore oil & gas, today announced the final closing of its second energy private equity fund, Aethon II LP. Together with co-investments, Aethon’s recent fundraising represents $240 million in total capital commitments.
Aethon’s recent activity exceeded the $200 million target that the Company established at the outset of fundraising, and the fund received commitments from both new and existing institutional investors. The fund enabled Aethon’s management to continue its strategy of acquiring and developing onshore oil and gas assets that provide attractive, asymmetric returns. Concurrent with this final closing of the fund, Aethon has fully invested the capital it raised.
Albert Huddleston, Founder, Partner and CEO, commented, “We were humbled to receive considerable interest from both current and new investors and appreciate the strong support from our partners, enabling us to exceed our target in an efficient manner. With these commitments, we constructed a portfolio that allows us to take advantage of the current commodity cycle as we have acquired attractive energy assets at favorable valuations. We hope this recent momentum will serve as evidence of our long standing, disciplined investment approach of identifying and operating assets with attractive risk/return profiles.”
Aethon was founded in 1990 by Albert Huddleston to acquire and develop oil & gas assets in North America. The Company is led by a team of veteran oil & gas professionals with significant operational experience. With the recent acquisition of its Haynesville and Rockies assets, Aethon will continue its extensive track record of best-in-class operations in an environmentally responsible manner.
About Aethon Energy
Aethon Energy Management LLC is a Dallas, Texas-based private investment firm that has managed over $1.2 billion in AUM and is focused on direct investments in North American onshore oil & gas assets. Since its inception in 1990, Aethon has maintained a focus on acquiring underappreciated assets where opportunities exist to add value through lower risk development, operational enhancements, and Aethon’s proprietary technical knowledge. Aethon’s 25-year track record spans multiple energy cycles and has consistently provided compelling asymmetric returns for its institutional and high net worth investors through disciplined buying and value creation. For more information, go to www.AethonEnergy.com.