Pelican Energy Partners LP has held a final close of its debut fund, having reached US $120 million in committed capital.

According to the release, Pelican is led by a group of highly experienced senior energy executives and is focused on strategic investments in smaller, high growth energy service companies having sustained earnings outlooks. Investors in the fund include current and former energy service company owners, CEOs and other top officers within the oilfield service industry.

Joe Welsh has joined Pelican as a managing director. Welsh most recently served as ...