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Lehman spinout Trilantic makes fracking water deal amid debut energy fundraise

19 Jun 2014

fracking water pipeLehman Brothers private equity spinout Trilantic Capital Partners has agreed to buy a majority stake in Fluid Delivery Solutions amid fundraising for its first energy vehicle.

Trilantic said CEO Dan Dunkelberg will continue to lead the fracking water management business, which transfers and stores fresh water for use in oil and gas basins including the new tide of shale sites across the US.

The deal follows recent exits of Enduring Resources’ Permian Basin assets and the IPO and secondary share sale of Antero Resources Corporation.

Trilantic said it has now committed nearly $2.5bn to the energy sector.

The firm filed to raise $500m for an energy-focused fund in May, with Credit Suisse Securities and Magenta Capital Services acting as placement agents.

Trilantic closed its first independent fund since spinning out of Lehman four years ago in December 2013, pulling in $2.2bn.

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