Pearl Energy Investments has closed its second fund at a hard cap of $600 million. Pearl targets the energy sector, making investments between $25 million and $75 million. No placement agent was used. Kirkland & Ellis LLP provided legal counsel to the fund.
DALLAS–(BUSINESS WIRE)–Pearl Energy Investments (“Pearl”) announced that on July 14, 2017, it held its first and final closing of Pearl Energy Investments II, L.P. at its hard cap with total commitments of $600 million.
William J. Quinn, Managing Partner, said: “We are truly appreciative for the continued loyalty and support of our investors. We believe the confidence they have placed in us is a result of the outstanding team we have built at Pearl combined with the high quality of investments in our portfolio. The Pearl team continues to be excited about the current investment environment and looks forward to the opportunity to generate attractive risk-adjusted rates of return for our partners.”
Pearl is a leading provider of equity capital and sponsorship to the energy industry, concentrating on the upstream, midstream, and services sectors. Pearl targets equity investments between $25 million and $75 million, and has led investments requiring in excess of $125 million of equity capital.
Kirkland & Ellis LLP served as fund formation counsel. Pearl did not engage a placement agent in connection with the formation of the fund.
Pearl Energy Investments is a Dallas-based energy investment firm with $1.1 billion of committed capital under management. Pearl focuses on partnering with best-in-class management teams to invest in the lower-to-middle market North American upstream, midstream, and oilfield services sectors. For additional information, please see www.pearl-energy.com.