Dallas-based Pearl Energy Investments has closed its third fund, Pearl Energy Investments III LP and affiliated funds, with total commitments of roughly $705 million.
That represents the largest investment vehicle in Pearl’s history.
“We’re thankful for the trust and support of our investors,” Pearl Managing Partner Billy Quinn said in a statement. “In what has been a challenging time for traditional energy, the Pearl team’s disciplined investment approach has allowed us to make significant distributions to our investors over the past several years. We are humbled that our diverse group of existing and new investors has entrusted us to steward their capital and will work diligently to continue to generate excellent risk-adjusted returns.”
Pearl was founded in 2015 and manages roughly $1.9 billion of cumulative capital commitments across a series of funds. It is a leading provider of equity capital and sponsorship to the North American energy industry.
Typically, Pearl said it targets equity investments of $25 million to $150 million and has led investments requiring more than $400 million.
“Our conviction in the attractiveness of the current investment environment is driven by persistent global demand, continued underinvestment in supply and limited access to capital for natural resources,” Pearl Partner Stewart Coleman said in a statement. “We have built an exceptional team at Pearl and remain focused on supporting entrepreneurs and being value-additive partners to our management teams.”
Pearl Energy Investments focuses on partnering with proven management teams to invest in the lower-to-middle market North American energy sector.
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