DALLAS--(BUSINESS WIRE)--PetroCap, has announced the final closing of PetroCap Partners II, L.P. ("PetroCap Partners II") at its hard cap of $350 million on December 23, 2014. PetroCap Partners II is more than double the size of its predecessor fund, Falcon E&P Opportunities Fund, L.P., which closed on $163 million in 2011.
PetroCap Partners II allows PetroCap to continue its 23-year history of direct oil and gas working interest investments.
“We are pleased to have completed the successful fund raise of PetroCap Partners II,” said Lane Britain, a Managing Director at PetroCap. “We are appreciative of the ongoing support of our past investors and welcome our new investors. We are thankful for the continued confidence they have placed in our firm."
PetroCap Partners II seeks to invest in onshore basins in the lower 48 states with a targeted investment size of $20-$70 million per project. In addition, PetroCap seeks to partner with operating teams to develop projects in the U.S. E&P market.
"We are excited about the opportunity to deploy this new capital on behalf of our long-term investors," said Alec Neville, a Managing Director at PetroCap. "The E&P sector is going through a challenging time, but we are confident that our deep technical and operating expertise will allow us to find valuable opportunities in this portion of the commodity cycle."
About PetroCap
Founded in 1992 as an energy merchant bank, PetroCap is a preeminent manager of direct oil and gas working interest investments with $600 million of committed capital since inception. PetroCap’s unique investment history is a function of its deep, in-house, technical and operating expertise.
