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Energy & Minerals Group raises $1.21bn for third fund

3 Jan 2014

offshore oil gas_sqEnergy-focused investment firm Energy & Minerals Group (EMG) has secured more than $1.2bn for its third fund.

Energy & Minerals Group Fund III has received commitments of $1.21bn from 63 LPs, according to a document filed with the US Securities and Exchange Commission.

Credit Suisse is acting as a placement agent for the fund, which does not have a minimum commitment requirement, the filing showed.

The new vehicle follows EMG’s second fund, which was closed with commitments of $2.2bn in 2012.

The firm invests between $150m and $400m in companies in the energy and minerals sector.

Last year EMG teamed up with NYSE-listed natural gas developer MarkWest Energy Partners to launch a development joint venture.

The Utica Joint Venture is dedicated to the development of midstream infrastructure on behalf of natural gas producers operating throughout the liquids-rich Utica Shale formation in Ohio.

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