Kimmeridge racks up $800 mln for fifth fund

Kimmeridge Energy Management Company has closed its fifth fund at a hard cap of $800 million. Kimmeridge Energy Fund V’s limited partners includes endowments, foundations, family offices and sovereign wealth funds. The fund will focus on acquiring and developing “unconventional” assets in top-tier basins. No placement agent was used.

PRESS RELEASE

NEW YORK, Oct. 2, 2019 /PRNewswire/ — Kimmeridge Energy Management Company, LLC (“Kimmeridge” or the “Firm”), an energy private equity firm focused on making direct investments in unconventional oil and gas assets in the U.S., today announced the final closing of Kimmeridge Energy Fund V (the “Fund” or “Fund V”) at its $800 million hard cap. Fund V was twice the size of Fund IV and oversubscribed. Inclusive of prior fundraises and co-investments, Kimmeridge has raised approximately $2.8 billion of limited partner commitments since the firm’s founding in 2012.

Fund V is focused on continuing Kimmeridge’s strategy of directly acquiring and developing unconventional assets in top-tier basins. The Fund received support from institutional investors including endowments, foundations, family offices and sovereign wealth funds.

Ben Dell, Founder and Managing Partner of Kimmeridge, said, “We would like to welcome both our returning and new limited partners, and thank them for their continued support. With a focus on assets at the front end of the cost curve, direct operatorship and a flexible investment approach, Kimmeridge is equipped to excel through commodity cycles. We believe that the current E&P landscape presents a host of compelling investment opportunities at attractive entry points, and we look forward to continuing to generate strong outcomes for our stakeholders.”

Led by founders Ben Dell, Dr. Neil McMahon and Henry Makansi, the Kimmeridge team has deep industry, investment and operating expertise. Kimmeridge maintains a fully-staffed, in-house operating and geology team, with experience across all major upstream functions and disciplines. This integrated structure empowers the firm to directly identify, develop and monetize promising assets.

Sidley Austin LLP served as fund counsel. Kimmeridge did not use a placement agent.

About Kimmeridge
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an energy private equity firm focused on making direct investments in unconventional oil and gas assets in the U.S. The Firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management and proprietary research and data gathering.