BlackGold Capital Management, an energy-focused investment firm, has raised $165 million for its second fund. BlackGold Private Equity Partners II will focus on credit-oriented securities or companies in energy or energy-related industry. Evercore Group LLC was the placement agent for the fund while Akin Gump LLP provided legal advice on the fundraising. BlackGold is backed by KKR.
HOUSTON–(BUSINESS WIRE)–BlackGold Capital Management LP (“BlackGold”), a research-driven firm focused on credit investments in the energy industry, today announced the final close of BlackGold Private Energy Partners II LP (“the Fund”) with $165 million in commitments.
The Fund, which commenced investing in June 2017, will primarily invest in credit-oriented securities of companies in energy and energy-related industries. The Fund will also participate in direct lending, invest in private and illiquid securities and other special situation opportunities in the energy markets.
“This new private structure fund is a significant milestone for our firm,” said Erik Dybesland, Managing Partner of BlackGold. “This new partnership provides us with additional resources to take advantage of the attractive market for energy credit and to deliver strong risk-adjusted returns for our partners. We appreciate the support and confidence of our existing limited partners, and welcome our new investors.”
Adam Flikerski, Managing Partner of BlackGold, added, “This Fund builds on the successful strategy executed by our first vintage Private Energy Partners, which launched last year with a close-knit group of investors. Today, we believe our dedicated energy investment team combined with an expanding platform is well positioned to take advantage of the evolving credit opportunities in the energy landscape over the coming years in both public and private markets.”
BlackGold Private Energy Partners II LP secured commitments from strategic institutional investors with global operations spanning the U.S., U.K., Europe, Asia, and Latin America.
BlackGold’s platform invests across the entire capital structure of energy companies, in both public and private markets, focused primarily on North American upstream, midstream, and oilfield service sectors. In addition to BlackGold’s traditional opportunistic and catalyst driven secondary market investments, the firm leverages its industry expertise by adding value to companies seeking capital solutions, debt re-financings or balance sheet restructurings.
“Our team is committed to delivering equity-like returns through credit investments for our clients while being disciplined with their capital,” said Sharam Honari, Partner at BlackGold. “We have a strong belief that specialization is a necessity in assessing the quality of management teams, the relative value of assets, and identifying potential catalysts.”
Evercore Group LLC served as a placement agent for the Fund and Akin Gump LLP provided legal advice throughout the fundraising process.
BlackGold Capital Management LP is a leading investment firm focused on opportunistic catalyst-driven investments in the energy industry. The firm’s team has decades of experience and expertise in energy with extensive long-standing industry relationships. Founded in 2006, BlackGold seeks to generate compelling returns for its investors by employing a deep fundamental research-driven approach in analyzing energy assets and capital structures. The firm manages $1.2 billion in capital across its investment platform which includes public and private commingled strategies as well as managed accounts. KKR & Co. LP, a global investment firm that manages investments across multiple asset classes, holds a 24.9% passive minority interest in BlackGold Capital Management LP. For more information, please visit www.BlackGoldCap.com.