Quantum Energy targets $2.5 bln for Fund VI

Quantum Energy Partners is back in the market targeting $2.5 billion for its sixth energy-focused private equity fund, according to two people who have heard the firm’s fundraising pitch.

Quantum officially launched the fund this month and expects to collect up to $1 billion for a first close in June, one of the people said.

It was not clear if Fund VI has a hard cap. Michael Dalton, managing director at Quantum, did not return a call requesting comment. Park Hill Group is working as placement agent on the fundraising.

Based in Houston, Quantum closed its fifth fund in 2009 on $2.5 billion. Performance on Fund V could not be immediately found.

Quantum, founded in 1998, targets investment opportunities ranging from $200 million to $2 billion in enterprise value per deal, according to the firm’s website. Quantum is led by S. Wil VanLoh Jr., president and chief executive officer.

In April, Quantum joined an investment consortium that injected up to $300 million in Oryx Midstream Services, to pursue midstream opportunities in the Permian Basin. Other investors in the transaction included Post Oak Energy Capital, Wells Fargo Energy Capital, Oryx management and other private investors, according to a statement from Quantum.

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