ARC Financial invests in Cygnet Energy’s WCSB resource strategy

Cygnet along with financial partners is looking to deploy upwards of C$500 million to capture and develop high-quality resource opportunities.

  • Cygnet focuses on capturing scalable resource opportunities in the Western Canadian Sedimentary Basin
  • ARC is Canada’s largest energy-focused private equity firm
  • In June 2021, ARC Financial expanded the mandate of its ARC Energy Fun 9 to include investing in the energy transition

ARC Financial has provided initial financing to Calgary-based Cygnet Energy, founded by the former Black Swan Energy management team led by President and Chief Executive Officer David Maddison. No financial term were disclosed.

Black Swan, which was private equity-backed, was acquired last year by Tourmaline Oil Corp for about C$1.1 billion.

Cygnet focuses on capturing scalable resource opportunities in the Western Canadian Sedimentary Basin. The company along with financial partners are looking to deploy upwards of C$500 million to capture and develop high-quality resource opportunities.

ARC Financial is Canada’s largest energy-focused private equity firm. It was founded in 1989 and is based in Calgary. It has raised C$6 billion across its funds and provides growth equity capital to companies across the energy spectrum.

In June 2021, ARC Financial expanded the mandate of its ARC Energy Fun 9 to include investing in the energy transition, as reported here by PE Hub.