Energy-focused SCF Partners ups stakes with $800m Fund IX raise


Energy-focused private equity firm SCF Partners has raised at least $800m for what looks to be a final close of its ninth fund, AltAssets can reveal.

The latest vehicle is one-third larger than the $600m SCF-VIII fund it closed three years ago, according to filings the firm lodged with the US securities regulator

SCF-IX has no more capital remaining to be sold beyond the $800m total, the latest filing shows.

More than 70 LPs commited to the latest fund. No details about specific LPs are given in the filing, although SCF says its investor base is composed mostly of non-profit organisations, universities and charitable endowments, and family offices.

The latest fund will continue the Texas-based firm’s strategy of investing in energy services and equipment companies with between $20m and $200m of revenues.

Last month AltAssets revealed that North America-focused Energy Capital Partners had hit the $2bn mark for its latest flagship vehicle.

That put Fund IV a third of the way to hitting its $6bn target just three months after it held a first close.

Earlier in the year energy-focused mid-market private equity firm Mountain Capital raised at least $645m for its latest fund.

It was founded in 2015 by former Apollo Management member Sam Oh and Chaparral Energy veteran John Wehrle.

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