Pearl Energy Investments LP fund reached its hard cap and had its final closing on Sept. 30 with $500 million in total equity commitments, Pearl Energy Investments said that day.
The private-equity firm focuses on investments between $25 million and $75 million for upstream, midstream and services sectors.
Kirkland & Ellis LLP was the fund formation counsel. Dallas-based Pearl did not engage a placement agent.
“We are very pleased to have raised our inaugural fund in such a short period of time and are now fully focused on capitalizing on the attractive investment opportunities created by the recent turmoil in the energy sector. We have closed one transaction and are looking forward to partnering with premier management teams in the coming months,” A. Chris Aulds, partner at Pearl, said.
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