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Quantum nears halfway mark for $2.5bn fund

2 Jul 2014

aside_bg-contactPrivate equity firm Quantum Energy Partners has reportedly held a first close for its sixth fund. 

The fund has secured $1.17bn towards its $2.5bn target, said PeHUB, citing a person with knowledge of the fundraise.

The source said that Quantum Energy Partners VI has a hard cap of $3.5bn.

QEP IV follows Quantum’s $2.5bn fund raised in 2009. That vehicle was generating an IRR of 19.75 per cent and a 1.35 cash multiple as at the end of last year, according to data from Texas County & District Retirement System.

he firm has received more than $6.5bn of equity commitments since its launch in 1998.

Last September AltAssets reported that an affiliate of Quantum had launched a fund with a $1bn target. At that time, Quantum Resources Fund II did not have any commitments.

Quantum Resources is focused on buying and developing producing and divesting long-lived, mature, onshore oil and gas properties in North America.

The firm was launched in 2006 by the founders of Quantum Energy Partners, who teamed up with chairman Don Wolf and Alex Cranberg.

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