Kayne Anderson Energy Funds has committed $100 million to Monadnock Resources LLC. Management is also participating. Dallas-based Monadnock is a newly formed independent oil and gas company that will target the acquisition and development of oil and natural gas assets in North America.
DALLAS–(BUSINESS WIRE)–Monadnock Resources, LLC (“Monadnock” or the “Company”) today announced a $100 million equity commitment from Kayne Anderson Energy Funds (“Kayne Anderson”) and members of the management team. Monadnock is being formed to target the acquisition and development of oil and natural gas assets in North America.
Monadnock is a newly formed independent oil and gas company headquartered in Dallas, Texas. The Monadnock management team is led by Matt Gentry, President and CEO; Adam Howard, Vice President of Engineering; David Williamson, Vice President of Geoscience; and Kelli Roach, Vice President and General Counsel. Management has extensive technical and operational experience across several North American basins. Prior to forming Monadnock, members of management most recently served in senior leadership positions in private companies.
Monadnock’s President and CEO, Matt Gentry, commented, “We wanted to partner with an equity provider that shows strength, integrity and pragmatism. With Kayne Anderson, we receive exactly that, along with a track record of successfully backing and aiding management teams. Monadnock is delighted to partner with Kayne Anderson and looks forward to a mutually prosperous relationship.”
Mike Heinz, Managing Partner at Kayne Anderson, commented, “We are very excited to partner with Monadnock, as the founders have an outstanding track record of identifying oil and gas projects with significant upside potential. Our investment in Monadnock highlights our strategy of making commitments to proven management teams with unique insights that create competitive advantages.”
Headquartered in Dallas, Texas, Monadnock will pursue the acquisition and development of oil and natural gas assets in North America. The Company will consider opportunities throughout select North American basins with an initial focus on the Permian Basin. For more information, please visit www.monadnockresources.com.
About Kayne Anderson
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $27 billion in assets (as of 6/30/2015) for institutional investors, family offices, high net worth and retail clients and employs nearly 300 professionals in eight offices across the United States.
Through Kayne Anderson Energy Funds, the firm has raised over $4.3 billion of committed capital dedicated to energy private equity investments in primarily upstream and midstream oil and gas companies. Currently, the firm has over 30 active portfolio companies focused on upstream and midstream oil and gas assets across North America.
The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit www.kaynecapital.com.