Energy-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.
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