Edge Natural Resources Hits $650M Hard Cap For Second PE Fund

Apr 4 2017 | 5:59pm ET

Energy specialist Edge Natural Resources LLC has raised $650 million in capital commitments for its second buyout fund, the latest firm to take advantage of healthy demand for energy-related private equity investments. 

The new fund, named ENR Partners II LP, closed at its hard cap, according to the company. It will pursue a similar strategy as Edge’s inaugural fund that raised $447 million in August 2015, investing alongside veteran operating teams in upstream and oilfield service transactions requiring between $25 million and $75 million in equity capital.

“We are extremely grateful for the continued confidence our investors showed in our team and strategy,” the Edge founding partners jointly commented in a statement. “The strong support from our existing investor base along with a handful of select new investors allowed us to conclude the fundraising process in under ten weeks from launch to closing with demand far exceeding our self-imposed hard cap on commitments.”

Gibson, Dunn & Crutcher LLP served as fund formation counsel, according to the statement. No placement agent was used. 

Headquartered in Dallas, TX, Edge Natural Resources focuses on small-cap opportunities in the North American energy industry. The company manages total commitments of over $1.1 billion across its two flagship funds and one co-investment vehicle on behalf of endowments, foundations, pensions and family offices.

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