Energy-focused Vortus holds $100m first close for debut fund


VortusEnergy-focused private equity firm Vortus Investment Advisors has reportedly hit a $100m first close for its debut vehicle which could target up to $500m.

Vortus launched the fund earlier this year according to peHub, which cited a person with knowledge of the fundraise.

It said Vortus was eyeing $400m for the vehicle, but was willing to extend that figure to a $500m hard cap.

Forbes Private Capital is acting as a placement agent for the fundraise.

Texas-headquartered Vortus was founded in 2012 by Jeffrey Miller and Brian Crumley to target lower mid-market investments in the onshore US upstream sector.

Miller was previously director of upstream and investments at Mercuria Energy Group and president of Moncrief Oil International, while Crumley was a founding partner of Luther King Capital Management Discipline Partners.

Earlier this year Vortus sealed its first deal by committing $50m alongside other partners to Foreland Resources.

Copyright © 2014 AltAssets