Global private equity and venture capital news and research

Intervale Capital beats target for third fund

25 Feb 2014

oil rig_lrgEnergy-focused mid-market firm Intervale Capital has taken less than five months to raise its biggest fund to date.

The Boston-based firm has closed its third fund on $495m, well above its $400m target and the $376m raised for its previous fund in 2012.

Prior to the official announcement, AltAssets reported that the fund had secured commitments of at least $475m.

Fund III brings the firm’s capital under management to $1.2bn including $281m for its first fund, which was closed in 2008.

The new vehicle will focus on in lower middle-market companies in the oilfield services industry in North America and Europe.

Intervale will invest in existing operating companies and seek to back experienced management teams in the start-up and formation of new oilfield services businesses.

Interval partner Erich Horsley said, “We appreciate our investors’ continued support. Intervale’s focus on the oilfield should continue to yield attractive opportunities.”

Copyright © 2014 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016