Canadian energy-focused private equity firm ARC Financial Corp has closed its eighth fund, ARC Energy Fund 8, with a total raise of $1.5 billion. The oversubscribed fund was backed chiefly by limited partners that committed to ARC’s previous funds, including ARC Energy Fund 7, which raised $1 billion in 2012. The Calgary-based firm said Fund 8 will continue to target opportunities involving Canadian growth exploration and production and oilfield service companies, and make investments of between $50 million and $200 million. Since its founding in 1989, ARC has raised more than $5 billion in fund capital. In March, Buyouts‘ Steve Gelsi reported on ARC and its latest fundraising activity.
ARC Financial raises $1.5 billion for 8th Canadian Energy Fund
CALGARY, June 8, 2015 /CNW/ – Canada’s leading energy-focused private equity manager, ARC Financial Corp., today announced that it has closed ARC Energy Fund 8 with $1.5 Billion of institutional capital. The fund was oversubscribed with the majority of the capital coming from investors in ARC’s earlier funds. ARC’s investment strategy remains consistent with prior funds with an exclusive focus on Canadian growth exploration and production and oilfield service companies.
Founded in 1989, and focusing exclusively on private equity investing in energy since 1997, ARC has raised over $5 billion across its eight energy funds and has the largest and most technically experienced private equity energy team in Canada.
Kevin Brown, ARC Co-CEO, said, “We are very appreciative of the strong support from our existing limited partners and new investors. The confidence they have shown in our team reflects the strong results of our prior funds and we remain committed to generating superior returns.”
ARC Co-CEO, Lauchlan Currie, continued, “This new fund will enable us to maintain our approach of developing investment opportunities through our extensive network in the Canadian energy industry in conjunction with our Executive-in-Residence program. We will continue to focus on investments of $50MM – $200MM with the highest quality management teams.”
About ARC Financial Corp. (www.arcfinancial.com)
ARC was the first private equity manager to focus exclusively on the Canadian oil and gas sector. The firm is based in Calgary, the center of the Canadian oil and gas business. Over the last two decades, ARC has invested in more than 170 energy growth companies; primarily private Canadian exploration and production and oilfield service companies. The ARC Financial team includes petroleum engineers, geologists, and geophysicists who provide technical depth for understanding investment opportunities and value creation strategies. ARC has a world-class research team that supports its investment strategies, proactively identifies key trends, and helps build relationships with entrepreneurs, industry leaders, and government.
Atlantic-Pacific Capital served as the global placement agent and advisor (www.apcap.com).
SOURCE ARC Financial Corp.
For further information: ARC Financial Corp., Nancy Smith, Managing Director, 403.292.0695, firstname.lastname@example.org
Photo courtesy of Shutterstock